Share trading of IFAD Autos begins today

FE Report | Published: February 05, 2015 00:00:00 | Updated: November 30, 2026 06:01:00

Share trading of IFAD Autos Limited (IAL), an auto mobile dealer will begin today (Thursday) on the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) under 'N' category, officials said.
DSE trading code for IFAD Autos Limited is 'IFADAUTOS' and DSE company code is 13237. The CSE scrip id is 16031 and scrip code is IFADAUTOS.
The company got listing approval from the DSE on January 18 and from the port city bourse on January 17.
IFAD Autos is the 29th listed company on DSE in the engineering sector that accounts for 4 per cent of the total market capitalisation on the premier bourse.
The public subscription of IFAD Autos was held between November 23 to 27, 2014 for resident Bangladeshi and it was continued till December 6 for non-resident Bangladeshi (NRBs). A market lot is 200 shares.
The automobile dealer floated 21.25 million ordinary shares of Tk 10 each at an offer price of Tk 30, including Tk 20 as premium and raised a fund worth Tk 637.50 million from the public.
Initial Public Offering (IPO) lottery of IFAD Autos was held on December 24, 2014. IPO subscription of the company was oversubscribed around 16 times as it received over Tk 10.23 billion against public issue of Tk 637.50 million.
The company's net profit fell 46.22 per cent year-on-year to Tk 54.92 million in July-September period 2014, with Tk 0.48 in earnings per share (EPS) and NAV per share Tk 42.17, considering Post-IPO 115,000,000 number of shares.
The proceeds from the IPO is being used for capital expenditure for assembling & body building units, bank loan repayment and IPO expenses.
Banco Finance and Investment and Alpha Capital Management jointly managed the initial public offering of IFAD Autos.
The securities regulator - Bangladesh Securities & Exchange Commission (BSEC) approved the IPO proposal of IFAD Autos on September 18, 2014.
The automobile dealers' main activity is importing, marketing and body building of different models of Ashok Leyland's vehicles, the second largest commercial vehicles maker in India, for assembly in Bangladesh through its own marketing staffs, dealers and selling agents in different districts across Bangladesh.
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