Acme Laboratories will float an IPO to raise funds from the market to finance its three new projects.
The company plans to offer shares worth Tk 50 million for potential investors, Managing Director Mizanur Rahman Sinha told a press briefing at Acme’s Dhamrai factory on Saturday.
He said the company, now 60 years old, was worth Tk 23 billion.
Md Fayekuzzaman, nominated director at Acme Laboratories and Managing Director of Investment Corp of Bangladesh (ICB) was also present.
“Companies with good capital are needed for developing the stock market. ICB Capital Management Ltd has decided to be the lead manager for Acme’s public issue and will ensure it is listed on the stock market,” he said.
Acme has raked in profit worth Tk 894 million in 2014, Sinha said. Earnings per Share (EPS) was Tk 5.65 and Net Asset Value (NAV) per share stood at Tk 66.16.
Acme is among the three companies just behind market leader Square Pharmaceuticals in sale of medicines in Bangladesh, Chief Financial Officer Jahangir Alam claimed.
It controls 8 percent of the domestic market share and exports 70 types of drugs to 20 countries.
“Compared to last year, our sales have gone up by 15 percent until June, 2014. We export five percent of the total sale.”
Source: bdnews24
