Runner Automobiles IPO Result Published Today. Runner Automobile’s initial public offer (IPO) shares allotment was completed on Monday afternoon. At Motijheel’s AGB Colony Community Center, it started at 10:30 am on Monday and ended at noon. You will get Emerald Oil Industries IPO result from our website. Runner Automobiles IPO approved by BSEC. Runner Automobiles IPO result will publish at 4th March 2019.
Vice Chairman of the company Mozammel Hossain, managing director Riazul Haque, chief financial officer Nazrul Islam, representative of Dhaka Stock Exchange, Saiful Islam Bhuiyan, Chittagong Stock Exchange representative Ali Rakib, IDLC managing director Moniruzzaman and former BSEC chairman Faruque Ahmed Siddiqui were present.
The bidding for discovering cut-off price for Runner Automobiles IPO shares under the book-building method is set to begin on September 10.
Institutional bidding is a must for a company intends to go public using the book building method. The bidding by the eligible institutional investors through the uniform and integrated electronic subscription system of the stock exchanges will be continued till September 13, officials said.
Runner Automobiles IPO Result
Distribution of Refund Warrant
The Bangladesh Securities and Exchange Commission (BSEC) allowed the company to conduct bidding for discovering IPO (initial public offering) share price on July 10. Runner Automobiles, which held road show on October 2016, will raise a capital worth Tk 1.0 billion from the capital market.
Runner Automobiles will use the IPO proceeds for research and development, purchase of machinery, repaying bank loans and meeting expenditure for the IPO process.
Of the IPO proceeds, Tk 630 million will be spent on design and development of new products, machinery purchase and upgradation of existing models, Tk 330 million for bank loan repayment and the remaining Tk 40 million will be IPO expenses.
Book building is a process through which an issuer attempts to determine the price to offer for its security based on demand from institutional investors. The eligible investors, who will not participate in the bidding, will not be able to participate in the offer period, said a DSE official.
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