Nahee Aluminum to make debut Sunday

Nahee Aluminum Composite Panel is set to make its share trading debut on Sunday (December 24) on the bourses under "N" category, officials said.

Nahee Aluminum will be the 36th listed company under the engineering sector which accounts for 5.80 per cent of the total market capitalisation of the Dhaka bourse.

Nahee Aluminum, which received regulatory approval from the Bangladesh Securities & Exchange Commission (BSEC) on July 17, floated 15 million ordinary shares and raised Tk 150 million from the public using the fixed price method.

The IPO subscription of the aluminum composite panel manufacturer was open to resident and non-resident Bangladeshis during the period of September 24 to October 3.

The company's IPO proceeds will be used for building construction, expansion of business, setting up new machineries, pay-off bank loan and IPO expenses.

The company has reported earnings per share (EPS) of Tk 2.33, according to its financial statement for the year ended on 30 June, 2016.

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