IPO approval of Walton shares
Bangladesh Securities and Exchange Commission (BSEC) has approved the initial public offering (IPO) of Walton Hi-Tech Industries, the country's electronics giant. The 629th regular meeting of the commission approved the cut-off price of Walton shares at Tk 315.
Yesterday Tuesday (June 23) BSEC executive director and spokesman. This information has been given in a press release signed by Saifur Rahman.
Walton is going to be listed with the highest EPS in the history of the country's stock market. According to the financial report mentioned in the prospectus, Walton's earnings per share or EPS is Rs 45.8. Net asset value or NAV is Rs.243.18. Walton ranks 8th among listed companies in terms of EPS for the latest published full fiscal year.
Meanwhile, Walton is in the top 5 among 358 domestic and foreign companies and mutual funds listed by NAV. Besides, Walton is going to be listed in the capital market without placement controversy. There is no chance of sudden increase in the number of free float shares as there are no placement shares.
Walton's company secretary Perth Pratim Das said that as per the rules, IPO prospectus will be published as well as IPO subscription and lottery will be held. The shares will be distributed among the winning applicants in the lottery and the shares will be deposited by CDBL as investors. The BSEC will then list Walton on the stock exchange and set a date for the start of share trading.
Walton executive director Uday Hakim said Walton had been a privately owned company for so long. Now the general investors of the country will also join the ownership. His expectation is that ordinary investors will benefit by investing in Walton and Walton's inclusion will create a positive trend in the country's capital market. He thanked the government, the finance ministry, the Bangladesh Securities and Exchange Commission, various investors' organizations and journalists for approving the IPO.