Dhaka, Bangladesh (BBN)– The public subscription of two companies — Western Marine Shipyard Limited (WMSL) and Khan Brothers PP Woven Bag Industries (KBPWBI) will begin this month (August), officials said.

The initial public offering (IPO) subscription of Western Marine Shipyard will begin on August 10 and remain open till August 14 for resident Bangladeshis and August 23 for non-resident Bangladeshis.

Western Marine Shipyard will float 45 million ordinary shares at an offer price of BDT 35, including a premium of BDT 25 and raise a fund worth BDT 1,575 million from the public.

The company’s earnings per share (EPS) and net asset value (NAV) per share were BDT 3.87 (weighted average) and BDT 40.27 in accordance with the financial statement for the year ended on June 30, 2013.

Prime Finance Capital Management Ltd, ICB Capital Management Ltd, and EC Securities Ltd are acting as issue managers of the Western Marine Shipyard’s IPO.

Meanwhile: Khan Brothers PP Woven Bag Industries IPO subscription will begin on August 24 and remain open till August 28 for resident Bangladeshis and September 6 for non-resident Bangladeshis.

The company will float 20 million ordinary shares at an offer price of BDT 10 and raise a fund worth BDT 200 million from public, using the fixed price method.

Considering the weighted average of last five years and the audited financial statement ended on June 30, 2013, the company’s earnings per share (EPS) and net asset value are of BDT 0.87 and BDT 14.69 respectively.

AFC Capital is acting as issue manager of the Khan Brothers PP Woven Bag’s IPO.

 

BBN/SSR/AD-31July14-8:18 pm (BST)