Dhaka, Bangladesh (BBN) – GSP Finance Company (Bangladesh) Limited will launch subscription of its initial public offering (IPO) on January 8, 2012, the company officials said.

IPO subscription of the company will be closed on January 12, 2012 for local residents while January 21, 2012 for non-resident Bangladeshis (NRBs).

The company will raise BDT 500 million by selling 20 million ordinary shares with face value at Tk10 each (market lot-500) plus BDT 5 premium. The shares were offered for the general investors including the NRB’s and mutual fund.

With a Net Asset Value (NAV) BDT 25.61 per share and an Earning Per Share (EPS) BDT 1.75 as of December, 2010, the company got approval from the Securities and Exchange Commission (SEC) on November 1, 2011 for going public.

The post-IPO paid up capital of the company is BDT 476.46 million.

ICB Capital Management Limited is working as the issue manager of GSP Finance Company.

BBN/SSR/AD-29DEc11-1:18 pm (BST)