Bangladeshi agro-based company Fine Foods Limited (FFL) has launched an initial public offering (IPO) to raise 32 million taka ($561,403), company officials said on Wednesday.
FFL will offer 1.5 million shares at 10 taka each starting on January 7 and closing the following day, the officials said.
The company has already raised 17 million taka by issuing 1.7 million shares to institutional investors in pre-IPO placements.
It has an authorised capital of 100 million taka divided into 10 million ordinary shares.
The funds will be used for expansion of a hatchery for fish culture, a livestock farm and a tree plantation project.
Bangladesh has five such listed agro-based companies.
FFL's shares will be traded on the country's main Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE).