Beximco Pharmaceuticals Limited (BPL) is set to be the first Bangladeshi company to list in Britain, raising $22 million through a sale of 20 percent of its share capital, the company said on Sunday. Bomb blasts in London and Bangladesh over recent months delayed the initial public offering (IPO) plan to raise $49 million.
The more modest offer closed on Thursday after what the company called an overwhelming response from investors. Trading is due to start on October 21 on the London Stock Exchange's Alternative Investment Market (AIM).
A total of 20 million GDRs were issued, raising 1.42 billion taka ($22 million) from international institutional investors.
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