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JMI Hospital Requisite Manufacturing Limited will hit the stock markets on Thursday.
The trading code of the company is ‘JHRML’, said the company in a filing with the Dhaka Stock Exchange on Tuesday. The company’s Tk 75 crore IPO was oversubscribed 8.65 times. Its subscription opened on February 27 and closed on March 3. Its cut-off price per share was fixed at Tk 25 after the bidding in line with the book building method. General investors will be able to purchase the shares at Tk 20 per share.
The IPO proceeds will be used in purchasing machinery, land and loan repayment. Bangladesh Securities and Exchange Commission (BSEC) approved the IPO proposal of JMI Hospital on November 25 last year.
Each general investor got a minimum of 51 IPO shares of the JMI Hospital while non-resident Bangladeshi investors received 58 shares against the application of Tk 10,000.
Earlier, the DSE formally allocated the IPO shares of JMI, under the newly introduced pro-rata basis which allows every applicant to get shares. The company has a trading and distribution business of medical instruments. Its factory is located at Munshiganj’s Gazaria.
According to the company’s audited financial statements as of June 30, 2020, the net asset value (NAV) without revaluation was Tk 27.78 and NAV with revaluation Tk 29.99.
And the earnings per share (EPS) was Tk 2.42 at the weighted average rate of the last 5 years. The paid-up capital is Tk 90 crore.