BD Thai Food changes its IPO fund allocation plan

BD Thai Food and Beverage Limited – a newly listed company – has decided to change the utilization plan of its IPO (Initial Public Offering) fund.

According to the company’s prospectus, Tk2.85 crore was initially allocated for a tunnel kiln. But now the amount is used for rotary ovens and packaging machines, molding parts and other various machines.

In a release on Sunday on the Dhaka Stock Exchange (DSE) website, the company said it has scheduled an Extraordinary General Meeting (EGM) on May 9 via a digital platform to finalize its new IPO utilization plan.

Also, it mentioned the new allocation of Tk2.85 crore in the disclosure. It said it allocated Tk84.57 lakh for importing one rotary kiln and one packaging machine from China, Tk18.58 lakh for importing another rotary kiln from India, Tk60.37 lakh for importing three sets of moldings from China.

The remaining Tk1.21 crore will be used to purchase various types of machinery such as a 250kVA diesel generator, a 500kg boiler and civil works.

BD Thai Food – the maker of various types of fruit juices, carbonated drinks, drinking water, candy, soft candy, lollipops and chewing gum – has raised Tk15 crore through an initial public offering (IPO).

In October last year, the Bangladesh Securities and Exchange Commission approved its IPO to raise the fund for acquisition of machinery and equipment, civil engineering works and land development.

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