• Monday, Apr 06, 2020
  • Last Update : 02:05 am

Discovering IPO cut-off price: Delta Hospital gets BSEC nod

  • Published at 10:00 pm February 11th, 2020
web-Bangladesh-Securities-and-Exchange-commission-BSEC
File photo of Bangladesh Securities and Exchange Commission Office in Dhaka Syed Zakir Hossain/Dhaka Tribune

The commission gave the approval at a meeting presided over by its chairman M Khairul Hossain

Bangladesh Securities and Exchange Commission (BSEC) on Tuesday allowed Delta Hospital Limited to discover the cut-off price of its shares through the book building method for raising Tk50 crore from the capital markets through an initial public offering (IPO).

The commission gave the approval at a meeting presided over by its chairman M Khairul Hossain.

The hospital will use the initial public offering proceeds to buy machines to expand business, repay bank loans, and meet IPO expenses.

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 Tk45.84 and Tk2.10 respectively.

Delta Hospital provides general medical treatment and in cancer diagnosis, treatment, and management in the private sector in Bangladesh.

The commission also approved draft prospectus of 1st ACACIA SRIM SME Growth Unit Fund (An open-end). 

The initial size of the fund will be Tk10 crore. The sponsor ACACIA SR Investment Management Limited will contribute Tk1 crore, while remaining Tk9 crore will be collected through sales of units. The face value of the units will be Tk10 each.