Dhaka, Bangladesh (BBN) – Pacific Denims made its share trading debut on the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) on Tuesday under “N” category, officials said.
Pacific Denims is the 46rd listed company under textile sector on DSE, which accounts for 4.0 per cent of the premier bourse’s total market capitalisation.
Pacific Denims, which received regulatory approval from the Bangladesh Securities and Exchange Commission (BSEC) in early September last year, floated 75 million ordinary shares at an offer price of BDT 10 each and raised a fund worth BDT 750 million from the public.
IPO subscription of the company was held between December 11 to December 19 for resident and non-resident Bangladeshis.
The company will utilize the funds from the initial public offering for its business expansion, loan repayments and IPO expenses.
The company’s basic earnings per share (EPS) stood at BDT 1.47 for July-December, 2016 period as against BDT 1.24 for the same period of the previous year.
However, considering Post-IPO 113,000,000 number of shares, the company’s basic EPS would be BDT 0.50 for six months (July-December) and net asset value (NAV) per share would be BDT 16.51 as on 31 December, 2016.
AFC Capital acted as issue manager of the Pacific Denims IPO.
Located at Pacific Integrated Industrial Park in Munshiganj, Pacific Denims is one of the largest mills in the denims industry in Bangladesh.
Its yearly production capacity is 18 million yards of denim fabrics, according to the company’s website.
Mark & Spencer, Tesco, Zara, H&M and Wal-Mart are the international buyers of Pacific Denims.