Al-Madina Pharma makes debut on SME Platform today

Al-Madina Pharmaceuticals will begin share trading on the SME Platform of the Dhaka Stock Exchange and the Chittagong Stock Exchange today (Monday).
The veterinary drug manufacturer raised Tk 50 million through qualified investors offer (QIO) early this month to expand business and repay bank loans.
Earlier on February 1, the Bangladesh Securities and Exchange Commission allowed it to raise the money by issuing 5 million ordinary shares at the face value of Tk 10 each.
The drug maker's profit after tax dropped 6 per cent to Tk 17.39 million in July-December 2022, compared to the same period a year before.
Its basic earnings per share (EPS) stood at Tk 1.13 for the six months through December 2022, decreased from Tk 1.24 for the same period of the previous year.
However, post-QIO basic EPS would be Tk 0.85 for July-December 2022 and the net asset value (NAV) per share after a revaluation would be Tk 19.65.
Al-Madina Pharma will not be able to declare any stock dividend for three years after the stock market listing, as per a regulatory provision.
It will start trading as the 16th listed companies on the SME platforms. Another SME company - MK Footwear PLC - is all set to raise Tk 100 million through qualified investors' offer between June 11 and June 15.
The SME board started its journey in September 2021.
Incorporated in July 2006, Al-Madina Pharmaceuticals manufactures more than 150 veterinary drugs and imports more than 70 human drugs. Its factory is situated at Tongi in Gazipur.

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