SharePoint24.com, Dhaka: Capital markets have not been in good shape for a while. DSEX, the main index of the Dhaka Stock Exchange (DSE), has been in the house of about four thousand for a few days. In no way should the index exceed four thousand. Corona virus has been added worldwide. Like other countries of the world, the corona virus has negative effects on Bangladesh's capital markets.
Day by day, the main index with the DSES and DS1 index are going down. In such a situation, it is imperative that good quality companies come into the country's capital markets. Hopefully, Walton Hitech Industries, an internationally-recognized domestic company, has decided to capitalize. The company's bidding has already been completed.
According to the sector concerned, good quality companies like Walton should come up fast in the development of capital markets. Capital markets are immensely involved with the country's economy. The stronger the market capitalization of a country, the stronger the economy of that country. So in the interest of the country's economy, capital markets, Walton should be brought in a quick turnaround.
Saifur Rahman, spokesman and executive director of the Bangladesh Securities and Exchange Commission (BSEC), said Walton is a good company. Hopefully Walton will play a good role in the capital market. As such, the market is not in a good position to be affected by the Corona virus. Right now Walton will actually be accelerating the capital markets. Better companies like Walton have to bring in capital markets.
Jamal Hossain, an officer of Hazrat Shah Securities, said the fragile situation of the capital markets was waning in general. Under the influence of the Corona virus, capital markets have had a very negative impact. Hopefully, Walton has decided to capitalize on some of this.
He said Walton is not, in fact, an overnight capital market. But Walton is, in fact, a bit of a capital market. Multinational companies like Walton have to be brought in very quickly for the development of capital markets.
We want Walton to come to the market. Their reputations are good. They have customers outside the country, including the country. They are providing good service. Ordinary people have a good sense of Walton.
According to sources, the bidder will buy shares of Walton Hi-Tech Industries at Tk. And at the rate of 5 percent less than the cut off price, the shares of Tk 1 crore 8 lakh 12 thousand 5 will be issued in the initial public offering. Earlier, at 2pm on March 2, the company started the auction to determine the cut off price. The finale ends on Thursday, March 7 at 9 pm.
The company will collect Tk 5 crore from the capital market through IPO. And the money will be used to expand the company's business, pay off bank loans and meet IPO costs.
The company's weighted average earnings per share (EPS) for the last 5 years was Tk. And on June 7, the net asset value per share (including the revaluation reserve) was Tk 25. And the net asset value per share without the revaluation reserves was 5 paise paise.
AAA Finance and Investment Limited is in charge of the company's Issue Manager. Note that the cut-off price of Walton has been fixed at Rs. This cut-off price is determined by the auction.