JMI Hospital Requisite Manufacturing’s IPO applications to start Sunday

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Dhaka, 26 February, 2022:

The initial public offering (IPO) application of JMI Hospital Request Manufacturing Limited (JHRML) will start from Sunday (27th February, 2022) under the book-building method. The subscription process of this leading company in the medical equipment sector will continue until 03 March (Thursday).

Earlier, the company completed electronic bidding from 9 January to 12 January. Through this bidding, the Dhaka Stock Exchange (DSE) has set cut-off price at Tk25 for the company to sell the shares to eligible investors.

However, the JHRML officials said that they will sell the shares to general investors at 20 percent lower rate from the cut-off price in accordance with the rules of the book-building method. In this process, the company will raise 52 crore 94 lakh and 12 thousand taka from the general investors by selling 2 crore 64 lakh 70 thousand and 600 shares at a price of Tk20.

JMI Hospital Request Manufacturing Limited received the IPO approval in the 799th meeting of the Bangladesh Securities and Exchange Commission (BSEC) to raise Tk75 crore capital through book building method from the stock market.

JHRML is allowed to use the raised money from the capital market for paying infrastructure and other construction cost, purchase of new machineries and equipment, land development and IPO expenditure.

According to the audited financial statements for the financial year ended on June 30, 2020, the net asset value per share of JMI Hospital Requirement Manufacturing Limited was Tk29.99 and the net asset value without revaluation was Tk27.78.