IPO road show of Star Ceramics today

Star Ceramics holds a road show for eligible institutional investors today (Thursday), as the company plans to go public under book building method.

The tiles and sanitary ware manufacturer plans to raise Tk 600 million from the capital market through initial public offering (IPO).

A road show is a requirement under the book building regulations before price discovery. Book building is a process through which an issuer attempts to determine the price to offer for its security based on demand from institutional investors.

Star Ceramic's IPO road show will be held at Radisson Blu Dhaka Water Garden at 6.30 pm on the day, when eligible institutional investors will get information about various aspects of the company, according to a statement.

Roots Investment and ICB Capital Management are jointly working as issue manager of the IPO while Green Delta Capital is registrar to the issue.

The issue managers will display the company's fundamentals to the eligible institutional investors during the road show.

The company will utilise the IPO proceeds to repay the bank loans, expansion of sanitary ware plant and IPO expenses, according to red-herring prospectus of the company.

Started commercial production of tiles on January 01 in 2013, the company is engaged in manufacturing and marketing of ceramic tiles and sanitary ware.

The company's pre-IPO paid up capital is Tk 1.50 billion and authorised capital is Tk 3.50 billion as on 31 December, 2017.

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