Generation Next holds roadshow
Textile maker Generation Next Ltd yesterday held a roadshow for institutional investors, as the company plans to go public under the book building method.
BRAC EPL Investment Ltd, the issue manager of Generation Next, valued shares at Tk 50 each: Tk 10 in face vale and Tk 40 in premium.
Generation Next will offload 30 million ordinary shares. Of the 30 million shares, 60 percent will be allotted for the general public, 20 percent for eligible investors, 10 percent for mutual funds and 10 percent for
Now, the investors will have to offer bidding prices in three workdays, which will ultimately fix an indicative price.
“We will finally submit the indicative price to the market regulator after averaging all biding prices from the eligible investors,” said Khaled Farazi, managing director of BRAC EPL.
Generation Next will use the proceeds from the initial public offer to expand business and repay outstanding loans.
Tauhidul Islam Chaudhury, chairman of Generation Next, described the strengths of the business, while Javed Chaudhury, chief executive officer of the company, presented the company's fundamentals.