Ananda Goes on a Road Show

Ananda Shipyard and Slipways (“Ananda Shipyard”) is on its way to become the first shipbuilding company to go public in Asia this year. The Bangladesh based shipbuilder is currently on the roadshow to sell 30 million new shares and list on the Chittagong Stock Exchange. The offer price has yet to be finalised, but shares could be offered at BDT 65 (USD 0.91) a piece as indicated in its IPO prospectus. Even though the IPO size may be as large as the mega shipbuilding IPOs that we are used to in Asia, the offering is nonetheless interesting in its own ways.

Ananda Shipyard was incorporated in 1999 as a subsidiary of the Ananda Group, a leading conglomerate in Bangladesh that is also involved in other business segments such as textile, polypropylene woven bag mills, land development, railway engineering and information technology. Today, the shipbuilding division employs over 1,362 workers and prides itself as the largest private shipbuilder in the country. Its clients include domestic companies such as Chittagong Port Authority, Mongla Port Authority, Bangladesh Inland Water Transport Authority, Bangladesh Water Development Board, Bangladesh Navy as well as European owners such as Stella Shipping, Johs, Gram-Hanssen A/S in Denmark and Komrowski Maritim, Navalis Shipping and Wesels Reederei in Germany.

This is only an excerpt of Ananda Goes on a Road Show

Content is restricted to subscribers. To continue reading please Log-In or view our subscription options.

Existing Users Login
Username
Password

Related Archive Files

• No Related Post