FE Report
The securities regulator has approved the IPO (initial public offering) proposal of Mozaffar Hossain Spinning Mills along with taking a decision on the redemption of First BSRS Mutual Fund (FBMF), officials said.
The decisions were taken at a commission meeting chaired by the Bangladesh Securities and Exchange Commission (BSEC) Chairman Professor M Khairul Hossain.
As per the regulatory approval, the Mozaffar Hossain Spinning Mills will offload 27.5 million ordinary shares at an offer price of Tk 10 each.
The company will raise a fund worth Tk 275 million through the IPO to repay term loans and bear the expenditures of public offerings.
As per the financial statement for the year ended on June 30, 2012, the company's earning per share (EPS) and net asset value (NAV) per share are Tk 2.78 and Tk 19.56 respectively.
In accordance with another BSEC decision, the FBMF will be redeemed as the fund will complete its tenure on December 31 next.
The fund was supposed to go for redemption on December 31, 2011. The BSEC later extended the tenure twice up to December 31, 2013.
At Monday's meeting, the securities regulator has also imposed a fined worth 1.0 million on the NBL Securities for disbursing margin loan to Ms Rukshana Akter beyond the approved ratio.
The securities regulator has approved the IPO (initial public offering) proposal of Mozaffar Hossain Spinning Mills along with taking a decision on the redemption of First BSRS Mutual Fund (FBMF), officials said.
The decisions were taken at a commission meeting chaired by the Bangladesh Securities and Exchange Commission (BSEC) Chairman Professor M Khairul Hossain.
As per the regulatory approval, the Mozaffar Hossain Spinning Mills will offload 27.5 million ordinary shares at an offer price of Tk 10 each.
The company will raise a fund worth Tk 275 million through the IPO to repay term loans and bear the expenditures of public offerings.
As per the financial statement for the year ended on June 30, 2012, the company's earning per share (EPS) and net asset value (NAV) per share are Tk 2.78 and Tk 19.56 respectively.
In accordance with another BSEC decision, the FBMF will be redeemed as the fund will complete its tenure on December 31 next.
The fund was supposed to go for redemption on December 31, 2011. The BSEC later extended the tenure twice up to December 31, 2013.
At Monday's meeting, the securities regulator has also imposed a fined worth 1.0 million on the NBL Securities for disbursing margin loan to Ms Rukshana Akter beyond the approved ratio.
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