Bashundhara Paper’s new product starts commercial operation
Bashundhara Paper Mills has informed that Xtreme Mosquito Coil has started its commercial operation as a new product of the Bashundhara Paper.
According to an official disclosure on Monday, daily capacity of 1.0 million coil producing plant has set a yearly production target of 36 million box coil.
As a result of this, total yearly sales revenue of the company is expected to grow up by more than Tk 1.0 billion approximately, said the disclosure.
Bashundhara Paper Mills, a concern of the country’s leading business conglomerate, Bashundhara Group, raised a capital worth Tk 2.0 billion by floating more than 26 million ordinary shares under the book-building method.
Funds raised from the IPO will be spent on buying new machinery, repaying loans and bearing the IPO expenses.
The company made its share trading debut on the country’s stock exchanges on July 02, this year.
Each share of the company closed at Tk 123.50 on Sunday at the DSE.
The company’s (un-audited) net profit after tax stood at Tk 321.76 million in the nine months for the period from July, 2017 to March, 2018.
The post-IPO EPS stood at Tk 1.85 for the period from July, 2017 to March, 2018. The net asset value (NAV) per share was Tk 34.07 as of March 31, 2018.
The company’s paid-up capital is Tk 1.73 billion and authorised capital is Tk 5.0 billion, while the total number of securities is 173.79 million, according to DSE data.
The sponsor-directors own 70.86 per cent stake in the company while the institutional investors own 8.99 per cent and the general public 20.15 per cent as on August 31, 2018, the DSE data shows.