Dhaka, Bangladesh (BBN)-The initial public offering (IPO) subscription of two companies — Shurwid Industries Ltd and Far East Knitting and Dyeing Industry (FEKDI)– will begin this month, officials said.
The public subscription of Shurwid Industries will begin on June 8 and remain open till June 12 for resident Bangladeshi and it will continue June 21 for non-resident Bangladeshi (NRB).
Under the fixed price method, the Shurwid Industries will float 14 million ordinary shares at an offer price of BDT 10 each to raise the said amount.
As per the financial statement for the year ended on June 30, 2013, the earning per share (EPS) and net asset value (NAV) of Shurwid Industries are of BDT 1.09 and BDT 14.11 respectively.’
ICB Capital Management is acting as the issue manager of the Shurwid Industries’ IPO.
Meanwhile, public subscription of Far East Knitting and Dyeing Industry will begin on June 15 and remain open till June 19 for resident Bangladeshi and it will continue June 28 for non-resident Bangladeshi (NRB).
The Far East Knitting and Dyeing Industry will offload 25 million ordinary shares at an offer price of BDT 27, including a premium of BDT 17 for each ten taka share and raised a fund worth BDT 675 million.
As per the financial statement for the year ended on June 30, 2013 and audited financial statement of previous five years, the company’s weighted average earning per share (EPS) and the re-valued net asset value (NAV) are of BDT 3.28 and BDT 19.08 respectively.
The IDLC Investment Limited has been appointed the issue manager to the FEKDI.
The securities regulator approved the IPO proposal of Far East Knitting and Dyeing Industry on April 25, 2014.
BBN/BB/AS-02June14-6:30pm (BST)
