JMI Hospital Requisite Manufacturing’s investors get minimum 51 IPO shares

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Dhaka, March 20, 2022 Sunday: A general investor will get a minimum of 51 initial public offering (IPO) shares of JMI Hospital Requisite Manufacturing Limited against the application of Tk10,000.

The Dhaka Stock Exchange (DSE) on Sunday allotted the IPO shares of the country’s leading medical equipment manufacturing company under the pro-rata basis at an event held at the DSE headquarter at Nikunja area in the capital.

The IPO shares distribution on a pro-rata basis allows every applicant to receive primary shares. In this process, the general investors, who have applied for Tk10,000 will get 51 or 52 IPO shares of the company, while the non-residential Bangladeshis (NRBs) will get a 58 or 59 shares, disclosed at the event.

At the IPO share allotment event the Managing Director (MD) and Chief Executive Officer (CEO) of DSE Tarique Amin Bhuyan and Chairman of JMI Hospital Requisite Manufacturing Limited Md Abdur Razzaq were presented.

Among others Chief Executive of Janata Capital and Investment Shahidul Haque FCMA, DSE’s Deputy General Manager Shafiqul Islam Bhuiyan and Senior Manager of Listing Affairs Department Md Rabiul Islam, JMI Hospital Requisite Manufacturing Limited’s Company Secretary Md Safiqur Rahman and Chief Financial Officer Subas Chandra Banik were also present at the event.

The IPO subscription was held between February 27 and March 03, aiming to raise Tk75 crore from the capital market under the fixed price method. The company’s IPO oversubscribed almost 8 point 65 times as it received a total application worth Tk649.13 crore against the IPO shares worth Tk75 crore.

At the 799th meeting of the Bangladesh Securities and Exchange Commission (BSEC), the JMI Hospital Requisite Manufacturing Limited had received the approval to issue shares in the capital market through an initial public offering. As a result, the company was allowed to raise Tk75 crore from the market.