Dhaka, Bangladesh (BBN)-Hamid Fabrics Limited (HFL) will make trading debut on Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) on Thursday (December 4) under ‘N’ category, officials said.
DSE trading code for Hamid Fabrics is “HFL” and DSE company code is 17464 while the CSE scrip code is “HFL” and scrip ID is 12052. A market lost is 200 shares.
Hamid fabrics is the 37th listed company in the textile sector in the DSE that accounts for around 5 percent of the total market capitalisation.
Hamid Fabrics was the first in offering issue under the new IPO method through the stockbrokers and merchant banks which aimed to cut down the processing time to three weeks from more than five weeks.
The public subscription of the company was held on September 28 to October 2 for resident Bangladeshi while it was continued till October 11 for non-resident Bangladeshi.
Using the fixed price method, the textile maker floated 30 million ordinary shares of BDT 10 each at an offer price of BDT 35, including BDT 25 as premium and raised a fund worth BDT 1.05 billion from public.
The textile company’s IPO subscription was oversubscribed around nine times.
The company reported its first quarter profit after tax BDT 61.55 million and basic EPS BDT 1.26 for the period ended on 30 September (July’14-Sept’14) as against BDT 63.86 million and basic EPS of BDT 1.31 for the same period of the previous year.
However, the post IPO basic EPS stood at BDT 0.78 for the first quarter and NAV per share at BDT 43.08 as on 30 September 2014.
ICB Capital Management acted as the issue manager of the company’s IPO, the proceedings from which would be used to service Hamid Fabrics’ existing bank loans and fund business expansion.
The securities regulator – Bangladesh Securities and Exchange Commission (BSEC) – approved the IPO proposal of Hamid Fabrics on August 12, this year.
BBN/BB/ANS-03Dec14-6:40pm (BST)