Dhaka, Bangladesh (BBN) – The initial public offering (IPO) subscription of Premier Cement will start from Monday for both the resident and non-resident Bangladeshis (NRBs), officials said.
The Securities and Exchange Commission (SEC) earlier deferred the company’s IPO subscription, which was scheduled to be completed within the timeframe from November 18 to December 17, considering the company’s proposal.
The public subscription of Premier Cement will remain open from December 17 to December 23 for resident Bangladeshis, the officials of Dhaka Stock Exchange (DSE) said, adding that the non-resident Bangladeshis (NRBs) will be able to apply for the allotment of the company’s shares up to January 01, 2013.
According to IPO prospectus, the company will offload 12 million ordinary shares of ten taka each at an offer price of BDT 22, including a premium of BDT 12.
The company will raise a fund worth BDT 264 million through the IPO for the purpose of expansion.
Company’s earning per share (EPS) and net asset value (NAV) per share are BDT 4.05 and BDT 23.08 respectively as per the audited financial statement for the year ended on June 30, 2011.
BBN/SSR/AD-16Dec12-12:50 pm (BST)
