Walton is the topmost local brand that produces electronic goods globally. At this instant, this company already got domestic and global recognition for its user experience and proven track record in a variety of electronics fields. In fact, it is the pioneer brand of developing state of the art designs and modern technology having a leading market share. To emphasize, Walton established a milestone as the highest exporting Bangladeshi enterprise in the field of electronics, with a universal presence in over 20 countries and by 2020.
Along the way, the company recently announced the date to get the subsidy of its initial public offering (IPO). In other words, investors can apply to purchase the shares of the company between August 9 to August 16, 2020. As a matter of fact, Walton received the letter of consent from the Bangladesh Securities and Exchange Commission (BSEC).
Prior that, the regulator proceeded sales of the primary shares of Walton Hi-Tech Industries on a 20 percent discount through IPO. For now, the authority shaped discount prices at Tk315 through electronic bidding by the book building method.
Therefore, 1.38 million shares will be available for qualified and institutional investors at the discount price. By the same token, the individual investors will be able to purchase 1.55 million shares at Tk252 per share. Notably, Walton already explored the discounted price of its shares through the electronic bidding before this.
The Intention of Walton At the moment
Important to realize, the company will raise the capital of Tk100 crore through the IPO. With this intention to use the consent to expand its businesses, repay bank loans, and meet IPO costs. Meanwhile, Walton made a payment capital of Tk300 crore. In the 2018-19 accounting year, the company’s total revenue stalled at Tk5,177 crore where the net profit is Tk1,376 crore.
In the last monetary year, the organization’s income per share was Tk45.87. Moreover, the organization’s net resource esteem per share, with the revaluation, was Tk243.16. Without revaluation, net asset value (NAV) per share was Tk138.53 in the last financial year.
Generally speaking, Walton as a brand emerged as the most renowned brand among all consumer brands. In other words, it outranked others producing electronics, and automobiles products in Bangladesh. At present, Walton is a known brand in every household of the country. To emphasize, It proves that Walton has achieved a degree of success which is unparalleled in the country’s business domain. In effect, Walton has the nation’s confidence over them. So, their initial primary offering is on the way to be a successful project.