Popular Pharmaceuticals held IPO road show to woo investors

DHAKA, Oct. 25 (NsNewsWire) — Popular Pharmaceuticals Limited, one of the fastest growing pharmaceutical companies in Bangladesh, has organised a road show for its proposed initial public offering (IPO) under book building method.

The roadshow was held in capital Dhaka on Monday.

Tahera Akhter, chairman, Mostafizur Rahman, managing director, and other directors together with senior officials of the company, among others, were present in the road show.

Arif Khan, CEO & Managing Director of IDLC Finance Limited, and other high officials of IDLC and Alliance Financial Services Limited, Registrar to the Issue for this IPO, were also present on the occasion.

Dignitaries and Representatives of Stock Exchanges, Merchant Banks, Portfolio Managers, Asset Management Companies, Mutual Funds, Stock Dealers, Banks, Insurance Companies and Bangladesh Merchant Bankers Association (BMBA) attended the program.

According to a statement of the company, it will raise 700 million taka from the capital market subject to regulatory approval.

The IPO proceeds of the company will be utilized for expansion of its existing capacity and repayment of a portion of its bank loan. IDLC Investments Limited is working as Manager to the Issue for the IPO.

Popular Pharmaceuticals Limited, a concern of Popular Group, has a state of the art manufacturing facility at Tongi, Gazipur. The company is equipped with latest technology, machinery and skilled manpower to produce high quality pharmaceutical products.

As of June 30, 2016, the authorized and paid up capital of the company stood at  2,000 million million and 1,197 million million respectively. As per the company’s financial statements for the period ended June 30, 2016, annualized Earnings per Share (EPS) and Net Asset Value (NAV) per share are 1.92 taka and 35.12 taka respectively.