Dhaka, Bangladesh (BBN)-C&A Textiles has placed to ‘A’ category from existing ‘N’ category with effect from Wednesday as the company reported disbursement of 11 percent dividend, officials said.
“The company will be placed in ‘A’ category from existing "N" category with effect from March 25 as the company has reported disbursement of 11 per cent stock dividend for the year ended on June 30, 2014,” said a statement posted on Dhaka Stock Exchange (DSE) website on Tuesday.
C&A Textiles made debut trading under ‘N’ category on January 21 this year as 38th listed firm on the DSE’s textile category.
The export-oriented knit composite textile company floated 45 million ordinary shares of BDT 10 each and raised BDT 450 million through the initial public offering for machinery purchase, building construction and repayment of bank loans.
AFC Capital and Imperial Capital managed the initial public offering, which was approved by Bangladesh Securities and Exchange Commission (BSEC) in September last year.
The Chittagong-based company carries out knitting, dyeing and printing business and manufactures T-shirts, polo shirts, tank tops, shorts, sweat shirts, boxer shorts, skirts, leggings and fleece jackets.
However, the company’s share price lost 2.76 percent to close at BDT 17.9 on Tuesday.
BBN/BB/AD-25Mar15-12:00pm (BST)