Western Marine Shipyard Limited: IPO Form & Result

The Bangladesh Securities Exchange Commission (BSEC) approved IPO “Western Marine Shipyard Limited on Tuesday 3rd June 2014 on their 519 nos Meeting presided by BSEC Chairman Prof. M Khairul Hossain.

Company Information, IPO Application Form, Prospectus & Result are as Under:

COMPANY NAME: Western Marine Shipyard Limited or called WMSL is the leading shipbuilder of Bangladesh started its operation from July 2000 with its own shipyard in the eastern bank of river Karnaphuli, Chittagong over a land of 1.5 acres for building inland vessels.

ABOUT WMSL: Western Marine Shipyard is the leading shipbuilder in the country standing over 42 acres of land, modernized into a world-class shipyard consisting all sort of hi-tech & heavy tech machinery through an investment of Tk. 300 crore.  About 3500 employees worked here. More than five hundred professionals are working in the shipyard including marine, mechanical, electrical engineers, naval architects and experts on other fields. The yard gained recognition so rapid that its fame spread all over the world at a short period, as a result, today they are constructing ocean-going vessels for Germany, Denmark, and Pakistan.

Western Marine Shipyard has achieved remarkable international orders of shipbuilding in recent year, which are 8MP vessels fro Grona Shipping in Germany; 5 Ice-class Container Vessels for Stella Shipping in Denmark; 1 Floating Reception Vessel from LAMOR Corp. AB in Finland; 2 Passenger Vessels for Karachi Port Trust (KPT), Pakistan; and 1 Car Ferry for Hundested-RØrvig Færgefart in Denmark. Out of these foreign orders they have successfully delivered eight 5200 DWT MPC vessels to Grona Shipping, one floating reception vessel to LAMOR & two passenger ship to KPT, one car ferry & one 41000DWT MPC ship.

PRODUCT:  WMSL build more than 60 ships for coastal and inland use and new building of more than 30 ships are in progress which includes deep-sea fishing trawlers, port utility vessels, tugs, inland container ships, inland tankers, and passenger ships. Recently they have signed a contract for building one aluminum body passenger ship for Tanzania.

MISSION: WMSL is to improve continually on products and services.

VISION: To be the benchmark company in the shipbuilding industry through superior performance demonstrated by quality, timely delivery, and customer satisfaction.

CERTIFICATIONS: WMSL has recently received two certificates from BV; one is OHSAS 18000 for health & safety and ISO 14000 for the environment. Note that WMS already have ISO 9001 certificate from GL for quality. This has made them the only IMS certified company in Bangladesh. This has enhanced them in gaining more confidence to secure a greater share from the international market. (Source: WMSL web site)


CORPORATE OFFICE: Western Marine Shipyard Limited,
Amin Future Park  (7th Floor), 1440/A Strand Road, Chittagong, Bangladesh.
Phone: +880 31 253 0035, +880 31 251 3056, Fax: +880 31 253 0038

SHIPYARD: Kolagaon#4, Kolagaon Union, Patiya, Chittagong, Bangladesh.
Phone: +880 (o) 607430 1803

Email ADDRESS: –wms@wms.com.bdCommon
-sabbab@wms.com.bd- New building enquiry
-s.bashar@wms.com.bd-Public Relation/Media/Events

WEB ADDRESS: www.wms.com.bd

COMPANY EPS & NAV PER SHARE: As per financial statement for the year ended on June 30,  2013, and audited financial statement of previous five years the Company’s weighted average Earning Per Shares (EPS) Tk. 3.87 and re-valued Net Assets Value (NAV) Tk. 40.27 respectively.

ISSUE MANAGER: Prime Finance Capital Management Ltd., ICB Capital Management Ltd., and EC securities Ltd.working as the manager of the issue of WMSL.

WHY PUBLIC OFFERING: Bangladesh Securities Exchange Commission (BSEC) approved IPO of above Co. on 3rd June 2014. The Company will raise a fund worth BDT 1,575.00 million for the purpose of Repay Bank Loan, Infrastructure Development and IPO EXPENSES meet from IPO Proceeds.


Bank/Branch Code

General Public

Non-Residence Bangladeshi

Affected Small Investors

Mutual Fund

Distribution of Refund Warrant

NOS. OF SHARE OFFER: 45,000,000 (Forty-Five Million) Ordinary Shares

VALUE OF IPO: BDT 1,575,000,000.- (BDT One thousand five hundred seventy-five million)




SHARE ALLOTMENT: General Public -60% =270,000, Affected -20%= 90,000, NRB- 10%= 45,000 and Mutual Fund – 10% = 45,000

SUBSCRIPTION DATE: The Company’s Subscription will start from 10 August’14 to 14 August’14 and NRB till 23 August’14, Application Form coming soon.


Resident Bangladesh (RB) Form

Affected Form

NRB Form

Bank List

Western Marine Shipyard LTD. PROSPECTUS


p style=”text-align: center;”>THANK YOU FOR CONNECTING WITH US.

1 thought on “Western Marine Shipyard Limited: IPO Form & Result”

Leave a Comment