The initial public offering (IPO) of Navana Pharmaceuticals Ltd will open on September 13th and will last until September 19th.
The cut-off price of the company’s shares was set at Tk34 each via an electronic subscription system last month.
The drugmaker had previously received regulatory approval to raise Tk75 crore from the capital market through the bookbuilding method to expand its business.
Founded in Bangladesh in 1986, the company operates in two categories of medicines: veterinary medicine and human health.
The Veterinary Division manufactures and markets more than 123 high-quality pharmaceuticals and dietary supplements, including poultry, dairy and aqua products.
The Human Health Division produces more than 277 medicines such as tablets, capsules, oral liquids, ampoules, vials of dry powder, powder for suspension, eye drops, creams and ointments and more.
According to its audited financial report 2020-21, the company’s net profit was Tk17.98 billion, which was Tk13.13 billion in the previous fiscal year.
Its earnings were Tk360.66 crore which was Tk314.90 crore a year ago.
For FY21, earnings per share were Tk2.24 and NAV per share was Tk40.9.
Asian Tiger Capital Partners Investment Ltd and EBL Investments Ltd are the underwriting managers for Navana Pharma’s IPO.
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