Dhaka, Bangladesh (BBN)-Share trading of Shasha Denims Ltd (SDL) commence on the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) on Thursday under ‘N’ category, officials said.
DSE trading code for Shasha Denims is ‘SHASHADNIM’ and DSE company code is 17466 while the CSE scrip Id is 12054 and scrip code is ‘SHASHADNIM’.
The initial public offering (IPO) subscription of the denim producer took place in mid-December last year.
The denims producers floated 50 million ordinary shares at an offer price of BDT 35, including a premium of BDT 25 for each BDT 10 share and raised a fund worth BDT 1.75 billion from public.
IPO subscription of the company was oversubscribed by 5.50 times as the company received over BDT 9.63 billion against public issue of over BDT 1.75 billion.
Shasha Denims is the 39th listed firm under the textile sector on the DSE that accounts for around 3.50 percent of the DSE’s total market capitalisation.
IPO fund is begin used for expanding business, repay bank loans and bear the expenses of the IPO proceedings.
According to the audited financial reports for the year that ended on December 31, 2013, the company's earnings per share stand at BDT 3.73, while its net asset value is BDT 52.95.
AFC Capital and Imperial Capital acted as issue manager of the Shasha Denims's IPO.
The securities regulators – Bangladesh Securities and Exchange Commission (BSEC) – approved the IPO proposal of Shasha Denims on October 10, last year.
Shasha Denims Ltd (SDL) is one of the leading denims fabric producers in Bangladesh since 2000. SDL is located at Dhaka Export Processing Zone (DEPZ), according to the company's IPO prospectus.
BBN/BB/AS-04Mar15-12:20pm (BST)