Dhaka, Bangladesh (BBN)-Regent Textile Mills Limited (RTML), a Chittagong based textile maker, set to trade debut from Monday (December 14) on the bourses under ‘N’ category, officials said.
Using the fixed price method, the export-oriented textile maker floated 50 million ordinary shares of BDT 10 each at an offer price of BDT 25, with BDT 15 as premium and raised BDT 1.25 billion from the public.
IPO subscription of the company took place between October 14 to October 25 and the company received around BDT 7.15 billion against public offer of BDT 1.25 billion, oversubscribed by 5.72 times.
According to IPO prospectus, the IPO fund is being used for BMRE (Balancing, Modernisation, Replacement and Expansion) along with setting up new business project and expenses of IPO proceedings.
The company’s earnings per share (EPS) and net asset value (NAV) are BDT 2.92 and BDT 33.17 respectively, according to financial statement for the year ended on December 31, 2013.
LankaBangla Investment managed the IPO of Regent Textile.
The Bangladesh Securities and Exchange Commission (BSEC) approved the IPO proposal of the company on August 24 this year.
BBN/SK/AD