Dhaka, Bangladesh (BBN)-Share trading of C & A Textiles, a Chittagong based cent percent export oriented textile company, began Wednesday under ‘N’ category, officials said.
Under the fixed price method, the company floated 45 million ordinary shares at an offer price of BDT 10 and raised a fund worth BDT 450 million from the public.
A market lot is 500 shares.
The IPO subscription of the textiles company was held between November 9 to November 13, 2014 for resident Bangladeshi and it was continued till November 22 for non-resident Bangladeshi (NRBs).
The textiles company’s IPO subscription hit over 20 times high on its offer.
The total subscription received BDT 9.10 billion against demand offer of BDT 450 million.
In accordance with the audited financial statement for the year ended on December 31, 2013, the company’s earnings per share (EPS) and Net Asset Value (NAV) are BDT 1.78 and BDT 18.38 respectively.
Proceeds from IPO is being used for re-payment of bank loan, construction of building & acquisition of machinery and IPO expenses, according to the company’s IPO prospectus.
AFC Capital and Imperial Capital are working as issue managers of the C & A Textiles’ IPO.
At present 37 textiles companies are listed on the DSE that accounts for around 5 per cent of the DSE’s total market capitalisation.
The securities regulator approved the IPO proposal of C & A Textiles on September 23, 2104.
The C & A Textiles started its commercial operation on 7th February, 2003.
Saturday, September 22, 2018