Dungsam Polymers Limited (DPL), is now been listed with the Royal Security Exchange of Bhutan Limited (RSEBL). The DPL is the first company divested by Druk Holding and Investments (DHI) since its formation in 2007. The company now will be formally traded in the Bhutanese stock market.
The DHI Chairperson, Lyonpo Om Pradhan said such trading in the market not only benefits commercially operated companies but also public and economic at large.
“The public becomes very engaged in the industrialisation process of the Country and they will benefit from this process of economic development,” he said adding that it has been the objective of DHI to divest shares to the public. “The ownership becomes as broad as possible for all the commercial ventures within the country.”
As per the DHI the response to the Initial Public Offering was overwhelming with more than 3 times over subscription. DPL is also now the first company ever in Bhutan to be floated at a premium price of Nu.165 per share. About Nu. 66 million was raised through the IPO which will be used for the company’s growth.
Dungsam Polymers Limited is a polypropylene bag manufacturing unit located in Nganglam in Pemagatshel. The DPL is expected to produce 100,000 of these bags everyday whose main market is the Dungsam Cement Corporation Limited.
