Dhaka, Bangladesh (BBN)– Keya Cotton Mills Limited will submit its IPO proposal to the Securities and Exchange Commission (SEC) early next month for approval.

The company has planed to raise capital of BDT 500 million for business expansion using the book building method. It, with paid-up capital of BDT 660 million, will float 50 million ordinary shares of BDT 10 each.

The Prime Finance and Investment Limited presented the company fundamentals at a road show organized for eligible institutional investors in the capital Dhaka on Thursday.

Of the total 50 million shares, 20 per cent will be offered to institutional investors and 80 per cent to general investors.

BBN/SI/AD-25Dec10-12L07 am (BST)