News in brief

Runner Automobiles' IPO opens on Jan 31

The initial public offering of Runner Automobiles will open for subscription on January 31. The company aims to raise Tk 100 crore from the capital market by offloading 1.39 crore shares. The last date for subscription is February 10.

The cut-off price of each of the shares has been fixed at Tk 75, which came about through bidding by institutional investors. General investors will pay 10 percent less.

Popular Pharma gets nod to discover cut-off price

The stockmarket regulator gave go-ahead to Popular Pharmaceuticals on Tuesday to discover the cut-off price of its shares through bidding among institutional investors to raise capital.

The price will be applicable for institutional investors while general investors will pay 10 percent less. The drug maker will raise funds worth Tk 70 crore to purchase machinery, repay bank loans and meet IPO expenses.