Aman Feed IPO lottery held

The initial public offering (IPO) lottery of Aman Feed Ltd (AFL), the first issue under new IPO system, was held Wednesday for allocating 20 million shares among the successful investors, officials said.
The lottery was held at the Institution of Engineers, Bangladesh (IEB), conducted by Department of Electrical and Electronic Engineering, BUET. The IPO result is available on the websites of Dhaka Stock Exchange (DSE), Chittagong Stock Exchange (CSE) and the Aman Feed.
Out of a total of 20 million IPO shares with 200 shares per lot, general investors got 60 per cent (60,000 lots), affected small investors 20 per cent (20,000 lots), mutual fund 10 per cent 10,000 lots) and Non-Resident Bangladeshi 10 per cent (10,000 lots).   
Aman Feed is the first in offering issue under the mandatory new IPO system through the stockbrokers and merchant banks instead of banks.
Aman Feed, a concern of Aman Group, floated 20 million ordinary shares worth Tk 10 each at an offer price of Tk 36, including Tk 26 as premium, according to the company's IPO prospectus.
The fisheries and livestock feed producer and supplier's IPO subscription was held between May 25 and June 4 and raised a fund worth Tk 720 million from the public.
Total subscription received above Tk 9.10 billion against public issue of IPO of Tk 720 million, which is oversubscribed by 12.64 times.
Managing Director of Aman Feed Ltd Md Shofiqul Islam, directors Md Toufiqul Islam, Md Toriqul Islam, the representatives of issue manager, DSE, CSE and Central Depository Bangladesh Ltd (CDBL), were present among others at the lottery programmee.
The company's earnings per share (EPS) as of June 2014 stood at Tk 4.97 with a net asset value (NAV) per share of Tk 30.77.
LankaBangla Investments is the issue manager for the IPO. Aman Feed Limited (AFL) was incorporated on February 07, 2005 and started its commercial production on July 12, 2006.
The factory is located at Ullahpara, Sirajgonj. The company is primarily engaged in producing and distributing poultry, fish, shrimp and cattle feed, according to the company's website.
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