Walton holds IPO lottery draw

Walton Hi-Tech Industries will allocate 1.55 million IPO (initial public offering) shares as the company held lottery draw on Sunday through digital platform due to ongoing pandemic.

The result has been published on the websites of Dhaka Stock Exchange, Chittagong Stock Exchange, issue manager, and the company.

Walton Hi-Tech, the local electronics manufacturing giant, earlier completed road show, electronic bidding and IPO subscription as part of the process of raising a capital worth Tk 1.0 billion under the book building method.

The stock market regulator --- Bangladesh Securities and Exchange Commission (BSEC) approved the IPO proposal of the Walton Hi-Tech on June 23 this year.

As per the regulatory approval, the eligible investors will get 1.38 million shares of the company at the cut-off price of Tk 315 each, fixed earlier through electronic bidding.

The general investors, including affected small investors and non-resident Bangladeshis will get the remaining 1.55 million shares.

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