Agro Organica's debut trading today

Another SME firm, Agro Organica will make its share trading debut on the SME platform of the Dhaka Stock Exchange and the Chittagong Stock Exchange today (Wednesday).
The company, which produces various agricultural products, reported a 14 per cent year-on-year growth in profit to Tk 42.84 million in the nine months through March 2022, according to the DSE website.
No financial data of the company is available after March 2022.
The net asset value per share stood at Tk 12.82 while the net operating cash flow per share (NOCFPS) Tk 0.51 for the nine months to the end of March last year.
In May this year, the company received approval from the Bangladesh Securities and Exchange Commission (BSEC) for raising Tk 50 million through a qualified investors offer (QIO).
The company issued 5 million ordinary shares at a face value of Tk 10 each share under the fixed price method.
The fund will be used for the construction of an expansion unit inside the company's factory premises, acquisition of plant and machinery, working capital support, and QIO expenses.
Incorporated in 2015, Agro Organica's business is centred on contract farming, trading, processing, and making agro products to supply to both the local and international markets.
The company produces rice, saffron, isabgol, spices, ghee, jelly, and pickles for the local market.
As per the regulatory approval, it will not be able to declare any stock dividend for three years from the debut trading.
Shahjalal Equity Management is working as the issue manager of the company's QIO process.
The DSE SME platform began its journey in September 2021, creating an opportunity for small and medium enterprises (SMEs) to raise money from the primary market, a move to help them reduce debt burden, enhance corporate profile, and create optimal value.
At present, the number of companies listed on the SME board is 17 with an aggregate market value of Tk 23 billion.

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