Walton IPO subscription gets huge investors’ response
Centering a recent Initial Public Offering (IPO) subscription of Walton, large number of small and general investors invested in the capital market.
Investors crowded in the brokerage house amid the coronavirus pandemic to apply for Walton IPO subscription during Walton Hi-Tech Industries’ IPO subscription from August 9 to August 16, said a press release.
Stake holders considered market reputation, business growth, record of EPS (Earnings Per Share) and Net Asset Value (NAV) in last fiscal year before investing into Walton’s IPO subscription.
Ataur Rahman, an investor of Joytun Securities, said “I was used to invest in both the IPO and the secondary market. Witnessing the market’s deterioration in recent time, I lost my confidence for further investment in the capital market.”
“But now, I am inspired to make the investment with Walton as it is well reputed and good company.”, he said.
On June 23, the Bangladesh Securities and Exchange Commission (BSEC) approved the IPO proposal of the Walton Hi-Tech to raise a fund worth Tk 1 billion by issuing nearly 2.93 million ordinary shares.
According to the Dhaka Stock Exchange sources, total of 233 eligible investors applied for Walton IPO subscription.
The IPO proceeds will be spend on expansion of its businesses, repay bank loans and meeting the IPO related expenses.