Walton organises IPO road show | 2019-01-17

Walton organises IPO road show

Staff Correspondent

16th January, 2019 09:30:35 printer

Walton Hi-Tech Industries Limited (WHIL), a sister concern of the country’s electronics giant Walton Group, organised a Road Show for eligible investors to raise a fund of Tk 100 crore from capital market through initial public offering (IPO) under the book building method.

The Road Show was held at Walton Corporate Office in the capital’s Bashudhara Residential Area on Tuesday.

Walton Hi-Tech Industries Chairman SM Nurul Alam Rezvi delivered the welcome address in the Road Show programme while Managing Director SM Ashraful Alam, Director SM Mahbubul Alam, Independent Director Md Farhad Hussain FCA, International Business Unit (IBU) president Edward Kim, AAA Finance and Investment Chairman Khaja Arif, Prime Bank Investment Managing Director and Chief Executive Officer Dr Md Tabarak Hossain Bhuyian, among others, were present at the event.

The Road Show highlighted that as of July to September of the current fiscal year 2018-19, the company registered its EPS (Earning Per Share) at Tk 10.59 and NAV (Net Asset Value) at Tk 208 while its Retained Earnings stood at Tk 2,798.13 crore and Net Operating Cash Flow as per share posted Tk 17.20.

The authorised and paid up capital of the company are Tk 600 crore and Tk 300 crore respectively.

Tk 62.6 crore of the raised fund will be utilised in factory expansion, modernisation, research and development while Tk 33 crore in repayment of partial bank loans and the rest of Tk 4.5 crore in meeting IPO expenses.

SM Nurul Alam Rezvi said that after meeting local demand, Walton products are being exported to different countries of the world. Walton is entering share market to make people its development partner.

AAA Finance and Investment is manager to the issue of the company in stock market while Prime Bank Investment Limited is registrar to the issue.