Dhaka, Bangladesh (BBN)- Share trading of Tung Hai Knitting and Dyeing will begin at the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) on Monday under ‘N’ category, officials said.
Tung Hai Knitting and Dyeing is the 36th listed firm under the ‘textile’ sector in the Dhaka bourse while is the 31st listed company in the CSE under the ‘textile & clothing’ sector.
The DSE trading code for the company is “TUNGHAI” and DSE company code is 17463 while CSE scrip Id is 12051 and scrip code is “TUNGHAI”. A market lot is 500 shares.
The textile maker raised BDT 350 million from the public by floating 35 million ordinary shares of BDT 10 each, using the fixed price method.
The public subscription of the company was held on May 18 to May 22 for resident Bangladeshis while it was continued till May 31 for Non-resident Bangladeshis.
The company’s IPO subscription was oversubscribed by 25 times as the company received over BDT 8.70 billion against its demand offer of BDT 350 million. The IPO lottery was held on July 17, this year.
AFC Capital and Imperial Capital jointly managed the Tung Hai Knitting’s initial public offering, the proceeds of which are being used for meeting working capital needs, purchasing machinery and repaying term loans of banks.
The stock market regulator – Bangladesh Securities and Exchange Commission (BSEC) approved the company’s IPO prospectus on February 18, 2014. The company got listing approval from the DSE and CSE on August 14 and August 18 respectively.
Tung Hai Knitting is a subsidiary of Tung Hai Group, a leading manufacturer and exporter of knitted sweaters and jerseys, according to the group’s website. The group’s annual turnover is around $50 million.
BBN/SSR/AD-01SEpt14-9:07 am (BST)
