Walton IPO enthuses share investors

Economic Reporter: Walton Hi-Tech Industries Limited, the leading electronics giant in the country, is going to be listed in the capital market soon through Initial Public Offering (IPO) process that is enthusing the market investors.

Investors hoped that Walton’ share will have a big impact on boosting up the capital market. Capital market analysts also have the same view like investors. They think, investors’ interest would be sustained with the Walton share as it was a strong assets based and fastest-growing company in Bangladesh.

Market investors said the general interest of the investors has been noticed with the arrival of the Walton IPO. The magnitude of Walton's business is not likely to hurt investors by investing their shares. In addition, investors are expecting a good dividend.

Kazi Abdur Razzak, general secretary of Bangladesh Capital Market Investors Unity Council, said Walton products can be found at every home. Walton is also the prosperity of the country. And after such a company is listed in the market, investors here will be benefited.

He added, many companies came into the market through IPO in the past. Most of them failed to meet expectations level. Many did not even get good rates after coming to the stockmarket. But with Walton's cut-off price, it seems investors would be able to make a sure profit.

Md Saifuddin, managing director of IDLC Securities Ltd said, there is always a demand for recognized companies in the market and Walton is a reputed company. This is why investors are more interested in the company's shares.

He also added that the shares of these types of companies should be more opened to investors as there is a demand for recognized companies in the market. But the share that Walton put in the market is far less than the interest of investors. However, the more shares will come, the better the sharemarket will move.

Tawhidul Palash, an investor in the LankaBangla Securities Limited. Walton is well-known to everyone of all ages in the country. We will be benefited if this company gets listing into the stock market. Not just investors, Walton's shares will turn around a lot when it starts trading in the market. We look forward to Walton’s listing and trading here.

Investor Mohsin Ahmed, one of the leaders of ICB Investors Forum, said, ‘Walton is a proud of our country. It‘s a matter of fortune for the general investors to get share of the company. We are delighted that we are going to catch the Walton’s shares.

Walton Executive Director Uday Hakim said Walton is a fastest-growing multinational brand in the world. Walton is coming to the capital market in an attempt to make the people of the country a partner. He also hopes, the investors would sure be benefited with buying Walton's shares.

Walton continues playing significant role in country’s economy by manufacturing and marketing high quality electronics products in Bangladesh. This has reduced the cost of import with saving foreign currency. There is widespread employment by Walton with export income has increased.

On January 15, 2019, Walton performed a road show to collect Tk100 crore from the stock market in the book building system. Then in January this year, the Securities and Exchange Commission of Bangladesh (BSEC) approved the IPO bidding for the company. The cut-off price of shares of Walton Hi-Tech Industries Limited was then set at Tk315 each after bidding by eligible institutional investors.


Dhaka/Augustine Sujan/Nasim