General Investors Eligible to Apply for Techno Drugs IPO Shares Worth Up to Tk 1.0m
Are you looking to invest in the stock market? Well, here’s some exciting news for you! The IPO of Techno Drugs is set to open for subscription, with the aim of raising Tk 1 billion from the stock market. What’s even more interesting is that general investors can apply for shares worth up to Tk 1.0 million, thanks to a relaxation in the standard cap typically imposed for IPO applications.
If you’ve been maintaining a minimum investment of Tk 50,000 in the secondary market as of May 30, you are eligible to apply for Techno Drugs’ IPO shares. And if you’re a non-resident Bangladeshi with a minimum investment of Tk 100,000 in matured listed securities at market price, you can also participate in the IPO.
The cut-off price of Techno Drugs’ shares was fixed at Tk 34 through electronic bidding by institutional investors, but general investors will be able to purchase them at a 30% discount, at Tk 24 each. With the IPO proceeds, Techno Drugs plans to invest in new machinery, expand its factory, repay bank loans, and build a new production unit.
Despite a drop in sales and net profit in FY23, Techno Drugs remains optimistic about its future prospects. The company, established in 2009, produces human and veterinary medicines and claims to have pioneered the production of oncology medicines in Bangladesh.
So, if you’re looking to diversify your investment portfolio and be a part of a growing pharmaceutical company, consider applying for Techno Drugs’ IPO shares. With the potential for growth and innovation in the pharmaceutical industry, this could be a lucrative opportunity for general investors. Don’t miss out on this chance to be a part of Techno Drugs’ journey towards success!
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