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BD Paints makes debut on SME Platform today

Company's profit after tax jumped 54pc in 2021

FE REPORT | June 14, 2022 00:00:00

Trading of the shares of BD Paints will commence today (Tuesday) on the SME Platforms of Dhaka Stock Exchange and Chittagong Stock Exchange.

BD Paints is the 13th listed firm in the DSE SME Platform. Only qualified investors (QI) are allowed to trade in the SME Platforms.

The SME firm has reported profit after tax of Tk 48.26 million for the year ended June 30, 2021, up by a whopping 54 per cent, from Tk 31.31 million in the corresponding period, according to audited annual financial statements.

The company's basic earnings per share (EPS) stood at Tk 0.97 for the year ended on June 30, 2021, as against Tk 0.63 for the year ended on June 30, 2020, said the company in a filing with the DSE on Monday.

However, post-qualified investors offer (QIO) basic EPS for the year ended on June 30, 2021 would be Tk 0.78.

Pre-QIO net asset value (NAV) per share is Tk 15.94 as on June 30, 2021 and the same is Tk 14.79, considering post-QIO.

The stock market regulator -- Bangladesh Securities and Exchange Commission (BSEC) --on April 12 approved the company's proposal for raising capital through QIO.

As per the regulatory approval, the paint manufacturer raised Tk 120 million by issuing 12 million ordinary shares at a face value of Tk 10 each under the fixed price method.

The firm raised the capital through the qualified investors offer earlier introduced to ensure long term financing for the small capital companies.

The company will utilise the proceeds for building construction, machinery installation and working capital along with catering the expense of issue management.

Prime Bank Investment Limited and CAPM Advisory Limited are jointly working as the issue manager for the company.

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