Western Marine (BD) IPO Result published on 11 September'2014 .
Western Marine (BD) IPO Subscription Open: August 10, 2014
Subscription Close: August 14, 2014; Lot 100, Face value Tk 10
, Offer price Tk 35
, Single lot price Tk 3500.
Western Marine Services is the leading technical expertise
in marine sector of Bangladesh.
The organization was established in 1994 by a group of marine professionals who
were keen pool their resources to define a new order of maritime services.
Their major intention was to develop a cluster of technological excellence to
meet global demand of maritime industry.
Eventually Western Marine came up to be the pioneer in ship repairing
business within a span of year for their services to the inbound &
outbound
ships in the two major sea ports of the country. Their journey started
with a
small marine workshop in Chittagong
which still stands providing service to sea going ships mostly in the
outer
anchorage.
The Bangladesh Securities and Exchange Commission yesterday gave the
go-ahead to Western Marine Shipyard to raise Tk 157.50 crore from the
capital market.
Following the fixed price method, the company is set to float 4.50 crore
of ordinary shares worth Tk 10 each at Tk 35, including Tk 25 as
premium.
The shipbuilder will use the fund from the initial public offering for
infrastructure development and bank loan repayment, the regulator said
in a statement.
The company's five year's weighted average earnings per share, as of
June 2013, stood at Tk 3.87, with a re-valued net asset value per share
of Tk 40.27.
Prime Finance Capital Management, ICB Capital Management and EC
Securities would be the issue managers of the IPO.
AAA Consultants and Financial Advisers will manage the IPO, prospectus
of which was approved at a meeting presided over by BSEC Chairman
Khairul Hossain.
Meanwhile, the BSEC formed a two-member committee to investigate the
abnormal share price hike of Wata Chemicals and submit a report in the
next ten days.
Following its announcement of 30 percent stock dividends for 2013 on
Monday, the company's share price leapt more than eight times to Tk 487.
Wata Chemicals's net profit in 2013 rose 48.5 percent year-on-year to Tk
2.97 crore. At the end of last year, its earnings per share stood at Tk
6.13 and net asset value per share at Tk 119.82, against Tk 4.12 and Tk
110.86 respectively in 2012.
But after being re-listed on May 14, the company was traded for only one
day on May 29 at Tk 59.80 a share. Only 5,200 shares traded on that
day.
Before the re-listing, Wata Chemicals remained on the over-the-counter
market for four and a half years. In 2009, the DSE had transferred the
company to the OTC, a separate trading floor for junk shares.
The BSEC also formed a three-member body to prepare guidelines on
venture capital and private equity, and instructed the panel to submit a
report within the next one month.
Western Marine Shipyard Limited IPO
Per Share 35 tk ( with 25tk premium)
Lot : 100
Price : 3500/-
Total Lot : 2,25,000
General : 1,35,000
Affected : 45,000
Mutual Fund : 22,500
NRB : 22,500
EPS : 3.87 tk
NAV : 40.27 tk
Later a yard was established to collect demo ship’s equipment & spare
parts. This has even proved to be more successful as the organization exported
these spare parts in different destinations of the world. Western Marine at a
very short time got recognized in the market of spare parts export for their
quality product, timely delivery and definitely cost effectiveness.
In due course the entity moved to other businesses like major industrial
development works & heavy construction like storage tank engineering,
industrial steel works, installation of heavy machinery & many more.
Western Marine has even moved into shipbuilding & made a good name in the
global shipbuilding industry.
Today
Western Marine Services is a renowned name internationally for export
of marine machineries & equipment from demo listed vessels & all types
of industrial works. Presently holds ISO 9001:2008 & GL approval for
quality works.
Contact Us
Head Office:
Address: Amin Future
Park (6th – 8th Floor),
Strand Road, Chittagong-4100, Bangladesh
Tel: 880-31-2530030-2, 712177, 726579
Fax: 880-31-720248
Email: wms@wms.com.bd,
Website: www.wmsbd.com
Corporate Office:
Address: H.B.F.C Building
(Gr. Floor), 1/D, Agrabad C/A,
Chittagong-4100, Bangladesh.
Tel: 880-31-2511127-8
Singapore Liaison Office:
Nobpac Shipping Ltd.
Address:250 Tanjong Pagar Road #
05-02 St. Andrew’s Centre,
Singapore 088541.
E-mail: sohail@nobpac.com
PIC: Capt. Sohail Hasan, Chairman
Phone: +65 6220 0773
Fax: +65 6220 0024
Warehouse:
Address: BSCIC Industrial Estate, Block-B,
Fouzdarhat, Sagarika Road, Chittagong.
Bangladesh
Tel: 880-31-751122
Workshop:
Address: Soltgola, Bander, South Halishahar,
Chittagong, Bangladesh
Tel: 880-31-740462
Shipyard:
Address: Kolagaon, No.4 Kolagaon Union, Patiya, Chittagong
Mobile:
+8801711-798052
Managing Director: Md.
Sakhawat Hossain
Deputy Managing Director: Abu Md
Fazle Rashid
Commercial Director: Monzur Morshed Chowdhury
Technical Director:
Mohammed Abdul Mobin
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