The initial public offering (IPO) lottery of Olympic Accessories Ltd (OAL) was held Wednesday for allocating 20 million shares among the successful investors, officials said.
The lottery was conducted by Department of Computer Science and Engineering, BUET. The IPO result is available on the websites of Dhaka Stock Exchange (DSE), Chittagong Stock Exchange (CSE) and the Olympic Accessories.
The allotment letters among the successful investors and refund warrants will be distributed at Paltan Community Centre and Dhaka Zilla Krira Sangstha between May 24 to May 28 at 9am to 4pm.
Out of a total of 20 million IPO shares, general investors got 60 per cent, affected small investors 20 per cent, mutual fund 10 per cent and Non-Resident Bangladeshi 10 per cent.
The company's IPO subscription was oversubscribed by around 50 times against its public offer. The company's total IPO subscription stood above Tk 10.13 billion against public issue of Tk 200 million, according to final data from the Chittagong Stock Exchange (CSE).
Managing director of the Olympic Accessories Md. Golam Kibria, directors Golam Moula Majumdar, Md Golam Sorowar, CFO Zafran Tareque Chowdhury, CEO of PLFS Investments Nripendra Chandra Pandit, managing director of CAPM Advisory Mufakhkharul Islam, representatives of DSE, CSE and Central Depository Bangladesh Ltd (CDBL), were present among others.
IPO subscription of the company was held on April 19 to April 23 for resident Bangladeshis while it was continued till May 2 for non-resident Bangladeshis (NRBs).
Under the fixed price method, the company floated 20 million ordinary shares at an offer price of Tk 10 each and raised a fund worth Tk 200 million from the public.
The company will use the funds raised through the IPO for construction of a new factory building, purchasing machinery, and meeting up IPO expenses.
The company's earnings per share (EPS) as of June 2014 stood at Tk 1.43 with net asset value (NAV) of Tk 16.34 per share.
PLFS Investments and CAPM Advisory are the IPO's issue managers.
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