Business Desk :
The subscription of the initial public offering (IPO) of JMI Hospital Requisite Manufacturing Ltd opens on 27 February and continues till 3 March.
Through electronic bidding, institutional investors had earlier fixed the cut-off price at Tk25 for the primary shares of the plastic, rubber and silicon components manufacturer.
Qualified and institutional investors including mutual funds will buy 25% of the IPO shares at the cut-off price.
While individual investors will be able to purchase the remaining primary shares at Tk20 each – a 20% discount on the cut-off price.
The cut-off price is the price at which institutional investors get all the primary shares set aside for them under the book building method.
The company will collect Tk75 crore from investors, primarily for purchasing land and machinery, and for loan repayment.
