Asiatic Laboratories Limited arranged a Road Show programme and started its journey to Initial Public Offering (IPO) under Book Building method as per Bangladesh Public Issue Rules-2015 on Sunday, October 24.
Managing Director Md. Monir Ahmed, Chairman Tahmina Begum, Executive Director Maqsood Ahmed, Director Operation Sadia Ahmed, Independent Director, Company Secretary, Chief Financial Officer of Asiatic Laboratories Limited and other officials were present on this occasion, a press release said.
Representatives of Issue Manager and Registrar of Issue, Underwriters, Merchant Banks, Fund Manager, Bond Manager, Insurance Company, DSE-CSE Trec Holders, Mutual Funds, NBFIs and other representatives as per Public Issue Rules-2015 were also present on the occasion.
To gain market share and to become a reputed pharmaceutical company in Bangladesh Asiatic Laboratories Limited is participating in the IPO for Taka 95 crore subject to the approval of BSEC through Book Building Method. After spending on the IPO, the company will use the rest of the money to build new factory buildings, capital machineries and partially repayment of s loans.
Managing Director of the company, Monir Ahmed, said, “Successfully completing the IPO will enable us to achieve our desired production capacity and market share. According to the projected financial statement, our sales revenue in 2025 will be 287.63 crore and production capacity will increase to 2.87 crore pieces per year. This means that the sales revenue will increase by 98% from the current sales revenue and the payback period is presumed 2.5 years. We will be able to meet the market demand of Bangladesh and then export to other developed countries. This is the best time to invest in Asiatic Laboratories Ltd. and we will be able to give our shareholders the right returns and start our next milestone in the capital market. “
Over the past few years, local pharmaceutical companies have been working as game changers, with 90% of the market being dominated by local pharmaceutical companies. Recently, the pharmaceutical market has great potential and is projected to become a 6 billion market by 2025, with 114% growth from 2019. Since Asiatic has a very good reputation among the doctors because of its quality, we have a huge opportunity to set up an anti-cancer plant; Which can be supplied not only in the country but also abroad, said the officials of the company.
At the end of the event, a question-and-answer session was held for the representatives of Eis, where the managing director, Directors & Company Secretary of the company, answered the quarries. The company also said the quarries section will be open for next 3 days as per public Issue Rules an Eis can openly rise their question on the Red Herring Prospectus of Asiatic Laboratories Limited to the Issue Managers & companies mail address.
