Mamun Agro will debut in the stock market on Tuesday

Only institutional investors can buy the shares of the company

TBS Report

February 14, 2022, 7:15 PM

Last modification: February 14, 2022, 7:19 PM

Mamun Agro logo. Image: Collected

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Mamun Agro logo. Image: Collected

Mamun Agro Products – a small cap company in the country’s agricultural sector – is set to debut on the Dhaka Stock Exchange’s SME platform on Tuesday.

The company – active in agricultural products, fresh fruits and vegetables, agricultural supplies and seeds in Bangladesh – credited its main shares to the investors’ beneficial owners (BO) account on February 13.

The Dhaka-based company finalized its subscription from January 23-27.

On October 28, 2021, it had received approval from the Bangladesh Securities and Exchange Commission (BSEC) to raise Tk10 crore from the capital market through a Qualified Investor Offering (QIO).

The company will issue one crore of general shares, priced at Tk 10 each, and thus join the SME platform of the country’s premier stock exchange.

Established in 2003, the main activities of Mamun Agro Products are the manufacturing and marketing of agricultural products.

Only institutional investors can buy shares in the company.

Mamun Agro will use the money to construct a building and as working capital.

In the fiscal year 2020-2021, the company’s net profit was Tk 5.24 crore compared to Tk 5.16 crore in the previous fiscal year.

Its earnings per share amounted to Tk 1.31 and its net asset value without revaluation to Tk 15.58.

The company will not be allowed to issue free shares for three years after its listing on the SME platform.

BMSL Investment Ltd and Uttara Finance Capital Management Limited work as issue managers of the company.