Dhaka, Bangladesh (BBN) - Familytex (BD) Limited, an apparel manufacturing and exporting company, has submitted its IPO (initial public offering) proposal to the Securities and Exchange Commission (SEC), officials said.
Under the proposal, the company will offload a total of 34 million ordinary shares of BDT 10.
In its IPO prospectus the company said that the fund, which will be raised through IPO, will be used for repayment of high interest bearing loans to boost profitability, cash flow and solvency.
The company's pre-IPO paid-up capital is of BDT 1.05 billion and after the completion of IPO the paid-up capital will stand at BDT 1.39 billion. Its net asset value (NAV) is of BDT 11.82 per share as on December 31, 2011.
BBN/SSR/AD-29Apr12-1:20 am (BST)
