IFAD Autos to offload IPO Feb 05

IFAD Autos Limited is going to offload its Initial Public Offering (IPO) transactions on February 05 both at DSE and CSE. The company is placed in ‘N’ category.

According to sources, in Dhaka Stock Exchange (DSE), IFAD Autos’ trading code is IFADAUTOS and 13237 is the company code. In Chittagong Stock Exchange (CSE), the company’s scrip code is IFADAUTOS. The scrip ID is 16031.

ifadBefore that the company got its approval from CSE on 17th January and from DSE on 18th January.

In fact, the lottery of IFAD auto was held on 24th December 2014. The company’s IPO was submitted with 63 core against 23 core 39 lacs 50 thousand taka. The company wants to make money from the market about 16. 5 times more than the application submitted.

Before that, BSEC in its 527th meeting gave the company to approve its IPO. The company will use the IPO money for its business expansion and to pay the debt of banks and manage IPO expenses.

According to the IFAD Autos audited financial report for the financial year ending June 30, 2014, the income of the company is at per share (EPS) 5.16. Net Asset Value (NAV) is 44.12

The issue manager of IFAD autos is Banco Finance and Investment Limited and Alpha Capital Management Limited.


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