Dhaka, Bangladesh (BBN)– The initial public offering (IPO) lottery of C & A Textiles, a Chittagong based textile company will be held today (Thursday) to allocate shares among the investors, officials said.
The lottery will be held at 10:30am at the Institution of Engineers, Bangladesh (IEB), Ramna, Dhaka. Bangladesh University of Engineering and Technology (BUET) will conduct IPO lottery.
The IPO subscription of the textiles company was held between November 9 to November 13 for resident Bangladeshi and it was continued till November 22 for non-resident Bangladeshi (NRBs).
Under the fixed price method, the company floated 45 million ordinary shares at an offer price of BDT 10 and raised a fund worth BDT 450 million from the public. A market lot is 500 shares.
In accordance with the audited financial statement for the year ended on December 31, 2013, the company’s earnings per share (EPS) and Net Asset Value (NAV) are BDT 1.78 and BDT 18.38 respectively.
Proceeds from IPO is being used for re-payment of bank loan, construction of building & acquisition of machinery and IPO expenses, according to the company’s IPO prospectus.
AFC Capital and Imperial Capital are working as issue managers of the C & A Textiles’ IPO.
BBN/SSR/AD-11Dec14-12:07 pm (BST)
