Dhaka, Bangladesh (BBN)-The public subscription of C & A Textiles, a Chittagong based cent percent export oriented textile company, will begin on November 9 to raise a fund worth BDT 450 million from the public, officials said.
The initial public offering (IPO) subscription of the textile company will remain open till November 13 for resident Bangladeshi and it will continue till November 22 for non-resident Bangladeshi (NRBs). A market lot is 500 shares.
The securities regulator – Bangladesh Securities & Exchange Commission (BSEC) – approved the IPO proposal of C & A Textiles on September 23 this year.
Under the fixed price method, the textile maker set to float 45 million ordinary shares at an offer price of BDT 10 to raise the said amount.
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.
AFC Capital and Imperial Capital are working as issue managers of the C & A Textiles’ IPO.
The C & A Textiles started its commercial operation on 7th February, 2003. The knit composite Textiles Industries to carry out business of Knitting, Dyeing, Printing and Manufacturing of various types of RMG, according to the company’s website.
BBN/BB/AS-08Nov14-2:30pm (BST)