Bashundhara Paper Mills Ltd has started commercial operation of 'Xtreme Mosquito Coil' as a new product of the Bashundhara Paper Mills.
According to an official disclosure on Monday, the plant having a daily production capacity of 1.0 million pieces of coil has set a yearly production target of 36 million (3.60 crore) boxes of coil.
"Total yearly sales revenue of the company is expected to grow up by more than Tk 1.0 billion approximately," said the disclosure posted on the Dhaka Stock Exchange (DSE) on Monday.
Bashundhara Paper Mills, a concern of the country's leading business conglomerate, Bashundhara Group, raised a capital worth Tk 2.0 billion by offloading more than 26 million ordinary shares under the book-building method.
The fund raised through the IPO will be spent on buying new machinery, repaying loans and bearing the IPO expenses.
The company made its share trading debut on the country's stock exchanges on July 02 this year.
Despite the disclosure, the company's share price fell 2.43 per cent to close at Tk 120.50 each on Monday at the Dhaka bourse.
The company's (un-audited) net profit after tax stood at Tk 321.76 million in the nine months for the period from July, 2017 to March, 2018.
The post-IPO EPS stood at Tk 1.85 for the period from July, 2017 to March, 2018. The net asset value (NAV) per share was Tk 34.07 as of March 31, 2018.
The company's paid-up capital is Tk 1.73 billion and authorised capital is Tk 5.0 billion, while the total number of securities is 173.79 million, according to DSE data.
The sponsor-directors own 70.86 per cent stake in the company while the institutional investors own 8.99 per cent and the general public 20.15 per cent as on August 31, 2018, the DSE data shows.
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