BSRM IPO oversubscribed by 20 times

FE Report

The initial public offering (IPO) subscription of Bangladesh Steel Re-Rolling Mills (BSRM) was oversubscribed by 20 times against its public issue, according to Chittagong Stock Exchange (CSE).

The Chittagong-based steel manufacturing conglomerate received over Tk 12.32 billion through IPO against public issue of Tk 612.50 million, which is over subscribed by 20 times.

Among the total subscription received, Tk 8.62 billion came from general public, Tk 916.27 million from affected small investors, Tk 588.88 million from non-resident Bangladeshis and Tk 2.20 billion from mutual fund, according to final data from the CSE.

IPO subscription of the company took place from  February 1 to February 5, 2015 for resident Bangladeshi and it continued till February 14, 2015 for non-resident Bangladeshi (NRB).

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