BD Thai Seeks 12-Month Extension for Full Utilization of IPO Fund

Industry: Consumer & Retail, Food, Stock Market
Company: BD Thai Food & Beverage Limited
Company Intelligence Tag: Business Insights

BD Thai Food & Beverage is seeking a 12-month extension to fully utilize its IPO fund due to challenges in importing necessary machinery caused by the ongoing dollar crisis. Initially, the company was allotted 24 months, ending in January this year, to use Tk 150 million raised under the fixed price method for business expansion.

The Company Secretary stated that they were unable to import some machines because of the dollar crunch. Additionally, the funds allocated for purchasing new equipment were insufficient due to inflation driving up prices. The IPO prospectus outlined Tk 94.20 million for machinery and equipment, Tk 31.77 million for building and civil works, Tk 13.03 million for land and land development, and Tk 11 million for IPO expenses.

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