Oryza Agro to receive applications from Sept 5 to raise Tk 10cr thru QIO

Applications for the qualified investor offer (QIO) of Oryza Agro Industries Limited will be accepted from September 5.

According to the Dhaka Stock Exchange (DSE), the company’s QIO will start from September 5 and end on September 9.

At its 784th meeting on July 14, Bangladesh Securities and Exchange Commission (BSEC) approved the withdrawal of funds through Oryza Agro Industries Limited’s qualified investor offer by small capital companies.

Oryza Agro Industries will raise Tk 10 crore through QIO by issuing one crore shares at a price of Tk 10 each.

With the money raised, the company will spend on bank loan repayment, working capital and issue management costs.

The company’s earnings per share (EPS) stood at Tk 1.02 and net asset value (NAVPS) without revaluation reserves stood at Tk 18.09 as per the company’s financial report as of December 30, 2020.

The issuing company will not be able to issue any bonus shares for the next 3 years from the date of transaction on the SME platform.

Imperial Capital and City Bank Resources are responsible for managing the company’s issues, respectively.