Coppertech Industries Ltd Ipo

Coppertech industries ltd ipo

Coppertech industries ltd ipo

The IPO will stay open for both resident and non-resident Bangladeshis till April 9 this year

The Initial Public Offering (IPO) of Coppertech Industries Limited begins on Sunday, with the company aiming to raise Tk20 crore by offloading 20 million ordinary shares under the fixed price method.

The IPO will stay open for both resident and non-resident Bangladeshis till April 9 this year. 

A market lot consists of 500 shares and an investor has to submit Tk5,000 to apply for each lot of the company's IPO shares priced at Tk10 each.

For non-resident Bangladeshi and foreign applicants, the required amount (per lot) for subscription is $59.92 or €53, according to the Dhaka Stock Exchange (DSE).

The Bangladesh Securities and Exchange Commission (BSEC) approved Coppertech Industries' IPO in December 2018.

The company will utilize the IPO proceeds to purchase machinery, repay bank loans, construct buildings and bear the IPO expenses.

MTB Capital is working as the issue manager of the IPO.

As per the financial statement for the year ended on June 30, 2018, the company's net asset value (NAV) per share—without revaluation—stood at Tk12.06.

Coppertech Industries Ltd - English

For the same period, the earnings per share (EPS) of the Coppertech Industries stood at Tk2.60, whereas the diluted EPS was Tk1.03. 

The weighted average EPS stood at Tk0.87.

Located in Habiganj, the company commenced commercial operations in June 2014, and produces copper bars, copper rods, copper strips, copper wire, copper pipes, and copper tubes.