Dhaka, Bangladesh (BBN)-The Bangladesh securities regulator has approved the IPO (initial public offering) proposal of Tosrifa Industries which will raise a fund worth above BDT 638.72 million from public, officials said.
The approval came at a commission meeting held at the office of the Bangladesh Securities and Exchange Commission (BSEC) on Tuesday.
As per the regulatory approval, Tosrifa Industries, under the fixed price method, will offload above 24.56 million ordinary shares at an offer price of BDT 26, including a premium of BDT 16 for each Tk 10 share.
In accordance with the company’s audited financial statement for the year ended on December 31, 2013, the earning per share (EPS) and net asset value (NAV) of Tosrifa Industries are BDT 2.49 and BDT 34.41 respectively.
IDLC Investments Limited has been appointed the manager to the issue of Tosrifa Industries.
BBN/BB/ANS-10Feb15-6:20pm (BST)