Asiatic Laboratories to go public

Asiatic Laboratories has got the approval to raise Tk 95 crore through an initial public offering (IPO) from the stock market.

Bangladesh Securities and Exchange Commission (BSEC) approved the IPO in a meeting at its office in Dhaka. The general stock investors will be allowed to get the shares of the pharmaceuticals company after the cut-off price is finalised through the bidding among the eligible investors.

With the IPO proceeds, the pharma company will expand its business, build a production building, and repay bank loans.

In the last financial year, the net asset value per share of Asiatic Laboratories  stood at Tk 56.61 and its weighted average earnings per share stood at Tk 3.21, said the BSEC in a press release.

Eligible investors will get the shares at their bidding price and a cut-off price would be set from their bidding.