GPH Ispat Eyes Hong Kong Stock Exchange Listing as Part of Global Expansion

GPH Ispat has announced plans to list on the Hong Kong Stock Exchange (HKEX), marking a significant step in its international growth strategy. The leading steel manufacturer has appointed PricewaterhouseCoopers Ltd, Hong Kong, and Price Waterhouse & Co. Chartered Accountants LLP, India, as advisors to oversee the listing process, 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 currently in Hong Kong from February 4 to February 6 to engage with key stakeholders. The team is scheduled to meet with officials from HKEX, Altus Capital (merchant bank and issue manager), and Lego Corporate Finance (underwriter) to advance discussions on the listing process.

“This move aligns with our vision to grow globally and strengthen our corporate presence,” the company stated in its announcement.

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Potential Benefits of an HKEX Listing

Listing on HKEX would significantly boost GPH Ispat’s global market presence, positioning the company within one of the world’s most dynamic financial hubs. The move is expected to create new investment opportunities, attract international investors, and support Bangladesh’s export growth, the company added.

Despite the positive announcement, GPH Ispat’s stock declined by 0.48% to Tk 20.7 per share on Monday at the Dhaka Stock Exchange (DSE), reflecting cautious investor sentiment amid broader market trends.

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Strong Financial Performance Fuels Expansion Plans

GPH Ispat’s international expansion comes on the back of strong financial results in the first half of FY25. The company reported a 104% year-on-year surge in net profit, reaching Tk 314 million.

Key financial highlights for July-December 2024 include:

• Earnings per share (EPS): Jumped to Tk 0.65, more than doubling from the previous year.
• Revenue: Increased by 2.32% year-on-year to Tk 28.15 billion.
• Finance income: Soared by 91% to Tk 141 million, contributing to overall profitability.

GPH Ispat’s impressive financial performance strengthens its ambitions for international growth, with the HKEX listing marking a bold step toward expanding its global footprint.

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