GPH Ispat is preparing to list on the Hong Kong Stock Exchange (HKEX) as part of its global expansion strategy. The steel manufacturer has appointed PricewaterhouseCoopers Ltd, Hong Kong, and Price Waterhouse & Co. Chartered Accountants LLP, India, as advisors, according to a press release issued on Monday.
High-Level Delegation in Hong Kong
A GPH Ispat delegation, led by Chairman Mohammed Jahangir Alam, is in Hong Kong from February 4 to February 6. The team will meet key stakeholders, including officials from HKEX, Altus Capital (merchant bank and issue manager), and Lego Corporate Finance (underwriter).
“This move aligns with our vision to grow globally and strengthen our corporate presence,” the company stated.
Benefits of the HKEX Listing
A listing on HKEX would enhance GPH Ispat’s position in the international financial market. It would also create new investment opportunities and support Bangladesh’s export growth, the company added.
Despite this announcement, GPH Ispat’s stock fell 0.48% to Tk 20.7 per share on Monday at the Dhaka Stock Exchange.
Strong Financial Performance
GPH Ispat posted impressive financial results in the first half of FY25, with profit surging 104% year-on-year to Tk 314 million. The company credited this growth to higher revenue and increased finance income.
For July-December 2024, earnings per share (EPS) jumped to Tk 0.65, more than doubling from the previous year. Revenue rose by 2.32% year-on-year to Tk 28.15 billion, while finance income soared by 91% to Tk 141 million.
GPH Ispat’s HKEX listing marks a bold step toward international expansion, with promising financial growth reinforcing its ambitions.
