JMI Hospital’s cut-off price fixed at Tk 25

The cut-off price of JMI Hospital Requisite Manufacturing Limited has been fixed at Tk 25.

The company on Monday released a press release informing the matter. 

The bidding was held from January 9 to 12 to determine the cut-off price of the company.

At that time, a bid of Tk 139.79 crore was proposed against the allocation of Tk 18.75 crore for eligible investors in the company.

Of these, the highest bid of Tk 137.67 crore was submitted for each share at Tk 25. As a result, the company’s cut-off price has been set at Tk 25.

Some 385 eligible investors bid for JMI Hospital’s offers. One of them offered a minimum bid of Tk 16. Besides, two investors offered bids for Tk 22, two investors for Tk 23 and one for Tk 24.

Earlier on November 16, the regulatory body Bangladesh Securities and Exchange Commission (BSEC) approved the bidding of the company.

The company wants to raise Tk 75 crore from investors in the stock market. The money will be used for land purchase, building construction, purchase of machinery, loan repayment etc.

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

The weighted average earnings per share (EPS) for the last five years of the company has been Tk 2.42.

Janata Capital and Investment Limited is acting as the issue manager to raise this money.