Dhaka, Bangladesh (BBN)– The initial public offering (IPO) subscription of IFAD Autos Limited (IAL) will begin Sunday (November 23) while public subscription of Shasha Denims Limited (SDL) and Zaheen Spinning Ltd (ZSL) will take place next month.
IFAD Autos: The public subscription of IFAD Autos Ltd will begin from Sunday (November 23) and remain open till November 27 for resident Bangladeshi and it will continue till December 6 for non-resident Bangladeshi (NRBs).
The securities regulator – Bangladesh Securities & Exchange Commission (BSEC) gave the green light to IFAD Autos to raise BDT 637.5 million from public on September 18.
The automobile dealer set to float 21.25 million ordinary shares of Tk 10 each at an offer price of Tk 30, including Tk 20 as premium. A market lot is 200 shares
As per financial statement for the year ended on June 30, 2014, the company’s earnings per share (EPS) stood at Tk 5.16 and net asset value (NAV) per share at Tk 44.12.
The proceeds from the IPO will be used for capital expenditure for assembling & body building units, bank loan repayment and IPO expenses.
Banco Finance and Investment and Alpha Capital Management will manage the initial public offering of IFAD Autos.
Shasha Denims: The public subscription of Shasha Denims Limited (SDL) will begin on December 14 to raise a fund worth BDT 1.75 billion from the public, officials said.
The initial public offering (IPO) subscription of the denim producer will remain open till December 21 for the resident Bangladeshi while it will continue till December 30 for the non-resident Bangladeshi.
The denim producer will offload 50 million ordinary shares at an offer price of BDT 35, including a premium of BDT 25 for each BDT 10 share and raise the said amount. A market lot is 200 shares.
According to the audited financial reports for the year that ended on December 31, 2013, the company’s earnings per share stand at BDT 3.73, while its net asset value is BDT 52.95.
AFC Capital and Imperial Capital will jointly manage the issue for Shasha Denims’s IPO.
Zaheen Spinning: The public subscription of Zaheen Spinning Limited (ZSL) will begin on December 28 and remain open till January 4, 2015 for resident Bangladeshi while it will continue till January 13, 2015 for the non-resident Bangladeshi.
The securities regulator approved the IPO prospectus of Zaheen Spinning to raise BDT 120 million from the public on October 30 this year.
The yarn manufacturer will float 12 million ordinary shares of BDT 10 each to raise funds for plant and machinery purchase. A market lost is 500 shares.
MTB Capital will manage the initial public offering (IPO) of Zaheen Spinning. The company’s earnings per share (EPS) stood at BDT 1.01 and net asset value at BDT 12.59 per share on June, 2014.
BBN/SSR/AD-21Nov14-11:25 am (BST)
