JAT Holdings’ initial public offering (IPO) aims to raise Rs. 2.2 billion by offering 82,904,846 ordinary voting shares to the public. The IPO price per share of Rs. 27.00 offers an immediate upside of 21% to an incoming investor on the value per share of Rs. 32.70; derived from a combination of discounted cash flow (DCF) and forward-earnings ratio (PER). The issue is managed by CAL and NDB Investment Bank.
Proceeds from the company’s IPO will be used for the company’s near term objectives of investment in enhancing the existing R&D facility to a fully-fledged, state-of-the-art facility for all coatings, setting up a manufacturing facility in Bangladesh, expanding the WHITE by JAT marketing and development initiatives and setting up a manufacturing facility in East Africa.
JAT Holdings Managing Director Aelian Gunawardene - stated, “The organization is well-positioned as an innovative leader in the furnishing and finishing industry, further investment is needed to unlock the true potential of the company. With that, it is also noteworthy that all our stakeholders will reap a plethora of benefits on par with the growth of the company, which is exciting news for all.”
Before the IPO, JAT Holdings will host a virtual forum scheduled for July 8 2021, extending its invitation to the public to partake in the informative session.
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