National Feed IPO lottery held

Initial Public Offering (IPO) lottery of National Feed Mill Ltd (NFML) was held Thursday at the Institution of Engineers, Bangladesh in the city for allocating shares among the investors.
Bangladesh University of Engineering and Technology (BUET) conducted the IPO lottery. Managing director of National Feed Mill Akther Hossain Babul inaugurated the IPO lottery.
Executive director the company Abdul Qyaum, independent director Nurul Amin, chief financial officer Firoz Alam, company secretary Arifur Rahman, representatives of Dhaka Stock Exchange (DSE), Chittagong Stock Exchange (CSE), Central Depository Bangladesh Ltd (CDBL) and the issue managers (ICB Capital Management and PLFS Investments), were present, among others.
The IPO lottery result has been published on DSE, CSE and National Feed Mill's websites.  
The IPO of National Feed Mill was oversubscribed by almost 47 times against the offer as the investors subscribed shares worth over Tk 8.44 billion against the offer of Tk 180 million.  
The company floated 18 million ordinary shares at an offer price of Tk 10 and raised a fund worth Tk 180 million from public using the fixed-price method.
The fund raised through the IPO is being used for repayment of bank loan and expansion of business along with boosting working capital, according to the company's IPO prospectus.
As per the audited financial statement for the year ended on June 30, 2013, the earnings per share (EPS) and net asset value (NAV) of the company are Tk 1.85 and Tk 14.55 respectively.
ICB Capital Management and PLFS Investments jointly managed the National Feed Mill's IPO.
The company is engaged in manufacturing all kinds of feed for poultry, shrimp, fishery & cattle, according to the company's IPO prospectus.
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