FMCG major Marico today said its Bangladesh subsidiary has got listed on the Dhaka Stock Exchange and the Chittagong Stock Exchange after the completion of its successful public offer.
Marico Bangladesh (MBL), a wholly-owned subsidiary of the company, signed the listing agreement with the Dhaka Stock Exchange and the Chittagong Stock Exchange today and trading commenced soon thereafter, Marico said in a statement to the Bombay Stock Exchange (BSE).
MBL had initially floated 5 per cent of its equity, which it later doubled by way of green shoe dilution.
The company's initial public offer (IPO), which opened on August 2, was oversubscribed by more than 11 times.
"MBL is the first company in the group to go public outside India," Marico Group Chief-Finance HR & Strategy Milind Sarwate said.
Shares of Marico were trading at Rs 87.80, up 0.75 per cent in afternoon trade on the BSE.
