Navana Pharmaceuticals Ltd has planned to raise Tk 750 million from the capital market through initial public offering (IPO) under the book-building method to expand its business.
In this regard, the drug maker will hold a road show at a city hotel at 7:00pm on December 21 (Tuesday), where eligible institutional investors will get detailed information about various aspects of the company, according to issue managers.
A road show is a requirement under the book building regulations before the price discovery of a company's shares. The 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.
Eligible investors such as merchant bankers & portfolio managers, asset managers, stock dealers, banks, financial institutions, insurance companies, alternative investment funds, foreign investors, and other institutions approved by the securities regulator are expected to join the event.
Navana Pharmaceuticals started its business in 1992. Since then, the drug maker is continuously expanding its business through new ideas, innovations and quality products, according to its website.
Navana Pharmaceuticals operates its business under two divisions: veterinary and human health divisions.
Veterinary division manufactures and markets high quality veterinary medicine and feed supplements for different segments including poultry, dairy and aqua products.
Human health division operates its manufacturing facilities in strict compliance with WHO guidelines for the production of tablets, capsules, oral liquids, ampoules, dry powder vials, and powder for suspension, eye drops, creams & ointments etc.
The company sells these products in the domestic and international markets. It exports to 15 countries and has around 3,000 employees.
The company has reported earnings per share of Tk 2.24 for the Fiscal Year (FY) 2020-21, which was Tk 1.64 in the previous year. Its net asset value per share stood at Tk 40.9 in the FY 2020-21.
EBL Investments Ltd and Asian Tiger Capital Partners Investment Ltd are working as issue managers, while AFC Capital Limited is working as the registrar for Navana Pharma's IPO process.
The factory of the drug maker is situated at Rupshi, Rupganj, Narayanganj.
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