• Monday, Nov 29, 2021
  • Last Update : 09:07 am

Asiatic Laboratories launches IPO

  • Published at 12:41 am October 25th, 2021
Asiatic Laboratories IPO road show
Courtesy

After spending on the IPO, the company will use the rest of the money to build new factory buildings, capital machineries and partially repayment of its loans

Asiatic Laboratories Limited started its journey to initial public offering (IPO) under book building method as per Bangladesh Public Issue Rules-2015.

The company arranged a road show program at the Radisson Blu Water Garden Hotel in the capital on Sunday, said a press release.

Managing Director Md Monir Ahmed, Chairman Tahmina Begum, Executive Director Maqsood Ahmed, Director Operation Sadia Ahmed, Independent Director, Company Secretary, Chief Financial Officer of Asiatic Laboratories Limited and other officials were present on this occasion.

To gain market share and to become a reputed pharmaceutical company in Bangladesh Asiatic Laboratories Limited is participating in the IPO for Tk95 crore subject to the approval of BSEC through the book building method.

After spending on the IPO, the company will use the rest of the money to build new factory buildings, capital machineries and partially repayment of its loans.

Managing Director of the company Monir Ahmed said: "Successfully completing the IPO will enable us to achieve our desired production capacity and market share. According to the projected financial statement, our sales revenue in 2025 will be Tk287.63 crore and production capacity will increase to 2.87 crore pieces per year. This means that the sales revenue will increase by 98% from the current sales revenue and the payback period is presumed 2.5 years. We will be able to meet the market demand of Bangladesh and then export to other developed countries. This is the best time to invest in Asiatic Laboratories Ltd. and we will be able to give our shareholders the right returns and start our next milestone in the capital market."

Over the past few years, local pharmaceutical companies have been working as game changers, with 90% of the market being dominated by local pharmaceutical companies.

Recently, the pharmaceutical market has great potential and is projected to become a $6 billion market by 2025, with 114% growth from 2019.

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