• Monday, Sep 26, 2022
  • Last Update : 10:24 am

Road Show: Walton to collect Tk100 crore from capital market

  • Published at 05:43 pm January 5th, 2019

Prospective investors will get detailed information about the company at the road show scheduled to be held on January 15

Walton Hi-Tech industries Limited (WHIL) plans to hold a road show for eligible institutional investors on January 15 this year, with the aim of raising Tk100 crore from the capital market.

According to a press release, the road show will be held at 6:30pm at Walton Corporate Office in Bashundhara, Dhaka. 

Prospective investors will get detailed information about the company, as per the rules of Public Issue 2015 made by the Bangladesh Securities and Exchange Commission (BSEC).   

The electronics manufacturer will use the capital to be collected from the primary market to modernize and expand the size of their factory, research and development, repay partial bank loans, and cover IPO expenses. 

As of July-September of  FY 2018-19, the company registered its EPS (Earning Per Share) and NAV (Net Asset Value) at Tk10.41 and Tk208, respectively. The authorized and paid-up capital of the company are Tk600 crore and Tk300 crore, respectively.

AAA Finance and Investment Limited has been appointed as the Issue Manager of the company, while Prime Bank Investment Limited will be acting as its issue registrar.

Speaking about Walton's current state, Company Secretary of Walton Md Yakub Ali, said: "Walton is now a successful model in terms of hi-tech product manufacturing. It has turned into a top brand and secured the highest credit rating ‘AAA’."

Inviting eligible institutional investors to the IPO road show, he said Walton is playing a remarkable role in national GDP growth, employment creation, foreign currency earnings and savings, and use of green technology.

Abul Bashar Hawlader, chief financial officer and executive director of Walton, said Walton manufactures innovative electronics and electrical appliances. 

"We have established Walton as a trusted brand in the eyes of our customers," Bashar said, adding that the brand now aims to become a global player in the electronics and electrical appliances market by 2021.

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