Walton Hi-Tech Industries Ltd, a sister concern of Bangladeshi electronic giant Walton, is going to enter the stock market.
Moreover, Walton has been targeting to expand its international market and flourish as a multi-national brand though exporting high quality 'Made in Bangladesh' products, reports UNB.
The authorized capital of the company has been shown at Tk600 crore, while the paid-up capital is Tk 300 crore. Walton is not giving any private placements in the stock market. The company will float IPO (initial public offering) in the stock market through the book building system.
AAA Finance and Investment Ltd acts as the issue manager of Walton in the capital market while Prime Bank Investment Limited is its registrar to issue.
Regarding its entrance into the stock market, Walton's Additional Operative Director Md Yaqub Ali FCA said: "The technological excellence of Bangladesh is now an example for other countries in the world. Walton is now the country's number one brand of electronics products. The main objective is to involve our people with the development of Walton."
He added that Walton High-tech Industries has achieved admiration in home and abroad for producing world-class refrigerators, freezers, and air conditioners.
Edward Kim, head of Walton's International Business Unit (IBU) said that the company has set a target of earning $1 billion by 2028 through exports.