Dhaka, Bangladesh (BBN)-Share trading of Khulna Printing and Packaging Limited (KPPL) will commence at the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) from August 18 under ‘N’ category, officials said.
The stock market regulator – Bangladesh Securities and Exchange Commission (BSEC) – approved the initial public offering (IPO) of the company on March 4, this year to raise BDT 400 million from public.
The IPO subscription was held on May 4 to May 8, for resident Bangladeshis while it was continued till May 17, this year for Non-resident Bangladeshis.
The company received around 7 times higher IPO subscription against its demand offer.
Using the fixed price method, the packaging company floated 40 million ordinary shares worth BDT 10 each to raise the said amount to meet working capital needs and pay back bank loans.
Sonali Investment Ltd acted as manager of the Khulna Printing’s IPO.
The company’s earnings per share stood at BDT 2.82 and net asset value per share at BDT 24.26 on June 2013.
It will be the second listed company under the paper and printing category.
Khulna Printing and Packaging, a sister concern of Lockpur Group, produces packaging materials for export industries, especially for frozen shrimps, according to the company’s website.
The firm produces poly bags, non-printed poly bags in different sizes, sticker and rider.
BBN/BB/ANS-11Aug14-7:30pm (BST)