Dhaka, Bangladesh (BBN) – Two listed textile sector companies – Hamid Fabrics and Desh Garments placed in ‘A’ category from existing ‘N’ category and ‘B’ category respectively, effective from today (Wednesday), officials said.
“Hamid Fabrics Ltd (HFL) will be placed in A category from existing N category with effect from today (Wednesday) as the company has reported disbursement of 10 per cent cash dividend and 10 per cent stock dividend for the year ended on June 30, 2014,” said a web post on Dhaka Stock Exchange (DSE) on Tuesday.
Hamid Fabrics, which made debut on December 4, last year, was the first in offering issues under the new IPO method through the stockbrokers and merchant banks which aimed to cut down the processing time to three weeks from more than five weeks.
Using the fixed price method, the textile company floated 30 million ordinary shares of BDT 10 each at an offer price of BDT 35, including BDT 25 as premium and raised a fund worth BDT 1.05 billion from public. Each share of Hamid Fabrics closed at BDT 26.8 on Tuesday.
The public subscription of Hamid Fabrics, a sister concern of Mahin Group, was held September 28 to October 2, last year for resident Bangladeshi while October 11 for non-resident Bangladeshis.
Another DSE web post said: “Desh Garments will be placed in A category from existing B category with effect from today (Wednesday) as the company has reported disbursement of 10 per cent cash dividend for the year ended on June 30, 2014”.
Desh Garments, which listed on the DSE in 1989, each share closed at BDT 70.1 on Tuesday.
BBN/SSR/AD-04Feb15-11:07 am (BST)