Dhaka, Bangladesh (BBN)-Simtex Industries, a textile sector company, is set to make trading debut on Monday on the Bangladesh stock exchanges under ‘N’ category, officials said.
Simtex Industries will be the 42nd listed firm in the textile sector on the Dhaka Stock Exchange (DSE) that accounts for 3.2 per cent of the total market capitalization.
The textile sector company floated 30 million ordinary shares at an offer price of BDT 20, including a premium of BDT 10 for each ten taka share.
A market lot is 300 shares.
The initial public offering (IPO) subscription of Simtex was held on September 6 to September 14 and raised BDT 600 million from the public.
The IPO fund is being used for repayment of bank loans, capital investments, and working capital and bear the cost of IPO proceedings.
As per the audited financial statement for the year ended on June 30, 2014, the company’s earning per share (EPS) is BDT 3.33 and net asset value (NAV) BDT 19.60.
AFC Capital Ltd and Imperial Capital Ltd are acted as issue managers of Simtex Industries’ IPO.
The securities regulator- Bangladesh Securities & Exchange Commission (BSEC) approved the IPO proposal of Simtex on June 9, this year to raise a fund worth BDT 600 million from the public.
BBN/SK/AD