Two firms file for SME board listing

Two companies have applied to the Bangladesh Securities and Exchange Commission (BSEC) for their listing in the small and medium enterprise (SME) platform of the Dhaka Stock Exchange (DSE).

SME companies Craftsmen Footwear and Accessories Limited and Scandex (BD) Limited want to raise Tk7 crore, and Tk5 crore, respectively, from the stock market through qualified investor offers (QIOs).

Scandex seeks to issue shares under the book-building method where the price of each share will be determined by investors' bids.

Both the firms have recently submitted their QIO prospectuses to the BSEC.

Craftsmen Footwear

Craftsmen Footwear and Accessories Limited was incorporated in May 2017, and is located in Sreepur, Gazipur.

The company manufactures leather goods and crafts, footwear, and other related products.

It wants to use the QIO fund of Tk3 crore in BMRE (Balancing, Modernization, Rehabilitation, and Expansion), Tk1 crore for repayment of bank loans, and Tk2.55 crore for working capital.

In the July to September quarter of 2022, the company's revenue stood at Tk18.25 crore – a staggering 534% jump from Tk2.88 crore in the same period of the previous year.

And, it made a net profit of Tk3.65 crore, which was a loss of Tk63 lakh in the same quarter a year ago.

Its earnings per share (EPS) stood at Tk2.02 and net asset value per share at Tk12.73 as of July to September 2022.

Its retained earnings stood at Tk4.94 crore, while its long term at Tk57 crore.

Green Delta Capital Limited is working as the issue manager of the company for the QIO.

Scandex

Scandex (BD) Limited was incorporated in October 2001. The company is a 100% export-oriented one that manufactures various types of ready-made garments of international standard. It is situated in Ashulia, Savar.

The company wants to use Tk4.83 crore of its Tk5 crore QIO fund for working capital.

In the July to September period of 2022, its revenue stood at Tk39.36 crore,

From July to September 2022, the revenue of the company stood at Tk39.36 crore – a 149% increase from Tk15.82 crore in the same period of the previous year.

Its net profit jumped 178% to Tk5.36 crore, from Tk1.93 crore in July to September period of 2021.

Its EPS stood at Tk2.55, and retained earnings Tk14.29 crore from July to September 2022.

MTB Capital Ltd is working as the issue manager of the company.