Dhaka, Bangladesh (BBN)-The board of directors of Dhaka Stock Exchange (DSE) has approved the listing proposal of Peninsula Chittagong, a hotel situated in Chittagong, taking the way to make its debut on the bourse, officials said.
The approval came at a DSE board meeting held on Wednesday chaired by its Chairman Justice Siddiqur Rahman Miah.
Trading date of Peninsula Chittagong will be announced soon, said a DSE official.
“We will fix the trading date after transferring shares to respective beneficiary owners’ (BO) accounts,” he said.
The initial public offering (IPO) subscription of the company was held on March 30 to April 3 for resident Bangladeshi, while it continued till April 12 for non-resident Bangladeshi (NRB).
The securities regulator approved the IPO proposal of the Peninsula Chittagong on February 4, 2014.
Under the fixed price method, the company offloaded 55 million ordinary shares at an offer price of BDT 30, including a premium of BDT 20 for each BDT 10 share and raised a fund worth BDT 1.65 billion.
As per the company’s prospectus, the fund will be utilised for the company’s expansion and along with setting up two new hotels near Chittagong Airport.
In accordance with the financial statement for the year ended on June 30, 2013, the company’s earnings per share (EPS) and net asset value (NAV) are BDT 2.49 and BDT 32.73 respectively.
BBN/BB/AS-05June14-11:50am (BST)
