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Bidding of JMI Hospital to start from January 9

Dhaka, Sunday


24 November 2024


Business Insider Bangladesh

Bidding of JMI Hospital to start from January 9

BI Report || BusinessInsider

Published: 19:01, 23 December 2021  
Bidding of JMI Hospital to start from January 9

JMI logo

The bidding of JMI Hospital Requisite Manufacturing Limited to collect funds from stock market investors by issuing an initial public offering (IPO) will start on January 9

The bidding window of the medical instrument and equipment manufacturer will be open from 5:00 pm on that day to 5:00 pm on January 12.

JMI Hospital recently got the nod from the Bangladesh Securities and Exchange Commission (BSEC) to raise money from the stock market through the book building method.

The company wants to raise Tk 75 crore from investors in the stock market. The company in this purpose held a roadshow at Bangabandhu International Conference Center on October 20, 2019

BSEC had earlier rejected the company’s IPO application on July 30 last year.

The company wants to use the money for land purchase, building construction, purchase of machinery, loan repayment etc.

ICB Capital Management and Janata Capital and Investment Limited are acting as the issue managers to raise the money.

According to the audited financial statements of the company for the financial year ended June 30, 2020, the net asset value per share stood at Tk 27.78 without revaluation and net asset value per share with revaluation stood at Tk 29.99.

The company has earned average earnings per share (EPS) of Tk 2.42 over the past five years.

The paid-up capital of the company is Tk 90 crore. The company will issue shares to the general investor at a discount of 20 percent of the cut-off price and will no longer be able to approve any type of inter-company loan.

In addition, the company may not declare, approve or distribute any dividend prior to listing on the stock exchange.

The regulatory body, the Bangladesh Securities and Exchange Commission (BSEC), approved the company’s bidding on November 16.