• Tuesday, Dec 01, 2020
  • Last Update : 11:51 am

Cut-off price of Walton shares set at Tk315

  • Published at 10:03 pm March 9th, 2020
Walton logo

Walton will raise Tk100 crore from the capital market for expanding business, paying back bank loans, and meeting IPO expenses through the initial public offering (IPO)

The cut-off price of shares of Walton Hi-Tech Industries Limited has been set at Tk315 each after bidding by eligible institutional investors.

As per the book building method, eligible institutional investors took part in the price discovery of the shares by bidding within 72 hours. 

At the end of the bidding process, with a proposed rate between Tk765 and Tk12, the cut-off price was set at Tk315.

According to the rules of the book building method, the shares will be sold to general investors at a 10% discount or at Tk283 per share.

Institutional investors will be offered 50% of the shares at the cut-off price. The remaining 50% of the shares will be offered to other investors, including general investors and non-resident Bangladeshis.

Walton will raise Tk100 crore from the capital market for expanding business, paying back bank loans, and meeting IPO expenses through the initial public offering (IPO).

The Bangladesh Securities and Exchange Commission (BSEC) approved the book building method for determining the cut-off price of the company on January 7.

According to the entity’s audited financial statements for the year ending June 30, 2019, the company’s net asset value per share and weighted average earnings per share were Tk243.16 and Tk28.42 respectively.

AAA Finance and Investment Ltd acts as the issue manager of the company’s IPO.

Walton has been targeting to expand its international market and flourish as a multi-national brand though exporting high quality 'Made in Bangladesh' products.

Walton High-tech Industries has achieved admiration at home and abroad for producing world-class refrigerators, freezers, and air conditioners. The company has set a target of earning $1 billion by 2028 through exports.

The authorized capital of the company is Tk600 crore, while the paid-up capital is Tk300 crore. 

55
52
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail