The regulatory body Bangladesh Securities and Exchange Commission (BSEC) has approved the IPO of AFC Health to raise money by listing on the stock exchange. This information is known from BSEC sources.

The approval was given at the 740th commission meeting of BSEC on Wednesday.

The company will raise Rs 16 crore through face issue at face value. With which the purchase of machineries and equipment and IPO costs will be managed.

AFC Health's earnings per share (EPS) for the 2018-19 financial year was 1.48. The net asset value per share (NAVPS) is Rs 13.13.

CAPM Advisory and Imperial Capital are working as the issue manager of the company.