Dhakathai Alcomax PLC, one of the leading aluminum profile manufacturers in the country, will raise money from the share market.
The company will raise Tk 30 crore by issuing 3 crore shares from the stock market through an initial public offer (IPO).
Recently, the company has applied to the Bangladesh Securities and Exchange Commission (BSEC), the regulatory body of the stock market. In Profile, the company said it has raised funds from the stock market to expand its business and meet growing demand in the local market.
Dhakathai Alcomax holds around 20 to 22 percent market share in the local aluminum profile market. The company aims to capitalize on growing demand by expanding market share by introducing compliant and high quality products.
In recent years, aluminum companies’ operating costs have risen significantly due to higher raw material and fuel costs, reducing profit margins for industrial firms, the company said.
In the financial report, the company said that the company has earned Tk 213 crore 96 lakhs till July-December 2023. In the same period of the previous year, it was Tk 193 crore 09 lakh.
The net profit after tax increased by 16 percent in the year under review from Tk 6 crore 33 lakh to Tk 7 crore 35 lakh.
During this period, the company’s earnings per share were 55 paise and net asset value per share was 11 taka 32 paise.
Prime Bank Investment Limited is acting as the Issue Manager for Dhaka Thai Alcomax Plc.
