In the initial public offering (IPO), a lottery draw has been held between Tawfiqa Foods and Agro Industries, an ice cream company of Lavello brand, to allot shares among the applicants. The company’s IPO lottery draw was held on Tuesday (January 26). Below are the lottery results:
Applications were accepted for the company’s IPO from January 3 to January 6. Earlier on October 14, the 744th meeting of the Bangladesh Securities and Exchange Commission (BSEC) approved the company’s IPO.
The company will raise Rs 30 crore by issuing 3 crore shares at a face value of Rs 10 each. With which the purchase of machineries and equipment, loan repayment and IPO costs will be managed.
Lavello Ice Cream’s earnings per share (EPS) for the first quarter (July-September 19) of the 2019-20 fiscal year was Tk 1.20. The net asset value per share (NAVPS) is Rs 12.17.
Banco Finance and Investment and Sandhani Life Finance are the issue managers of the company.