Dhaka, March 8 -- Techno Drugs, a manufacturer of veterinary and oncology medicine, will raise Tk 1 billion from the capital market for the purpose of business expansion and repaying partial loans.

The Bangladesh Securities and Exchange Commission (BSEC) on Thursday approved the company's proposal of floating IPO (initial public offering) under the book-building method.

The company's shares will be issued to eligible investors at the cut-off price to be determined at electronic bidding.

As per the regulatory approval, general investors will get shares at a 30 per cent discount on the cut-off price.

The company has reported its NAV (net asset value) per share with a revaluation surplus of Tk 27.78 and the value stands at Tk 22.57 witho...