Walton’s IPO bidding approved

Bangladesh Securities and Exchange Commission approved bidding for discovering cut-off price of Walton Hi-Tech Industries.

When a company seeks a premium over its face value to go for initial public offering, institutional investors bid for discovering a price for them. General investors buy the shares at 10 percent lower than the price.

Walton wants to raise Tk 100 crore to expand business and repay bank loans.