Export-oriented footwear manufacturer Shoeniverse Footwear Limited has appointed LankaBangla Investments PLC as issue manager for its planned initial public offering (IPO), marking the latest step in the company’s expansion drive as it seeks to raise capital for capacity growth.
Shoeniverse Footwear Managing Director Riad Mahmud and LankaBangla Investments CEO Iftekhar Alam signed the issue management agreement, the companies said.
The signing ceremony was attended by National Polymer Group Chief Financial Officer Syed Ahmed, LankaBangla Investments Head of Primary Market Services Estiuque Uddin and senior officials from both organisations.
Founded in 2017, Shoeniverse operates a green manufacturing facility in Mymensingh spanning about 231,718 square feet and employs more than 2,700 people. The company manufactures synthetic footwear for export markets, focusing on quality, innovation and sustainable production.
The company is undertaking a major capacity expansion programme to increase output and strengthen its competitiveness amid rising global demand for footwear exports.
Riad Mahmud also serves as president of the Bangladesh Association of Publicly Listed Companies (BAPLC).
Subject to approval from the Bangladesh Securities and Exchange Commission (BSEC), the proposed IPO is expected to finance Shoeniverse’s expansion programme, support future growth and reinforce its position in Bangladesh’s growing footwear export industry.
LankaBangla Investments is one of the country’s leading investment banks, providing IPO management, corporate advisory, capital raising, mergers and acquisitions, transaction advisory and wealth management services. The firm has managed and advised numerous public offerings and major capital market transactions.
