Bangladesh Securities and Exchange Commission or BSEC yesterday allowed Simtex Industries to start its initial public offering subscription on September 6 which will continue until September 14.
Earlier on August 23, BSEC had postponed the IPO subscription of Simtex, seeking further clarification on the issue.
The permission came at yesterday's meeting after the stockmarket regulator received satisfactory explanations from Simtex, BSEC said in a statement.
The company will raise Tk 60 crore from the public by issuing three crore ordinary shares of Tk 10 each, with an additional Tk 10 as premium.
In another move, the BSEC allowed IDLC Finance to raise Tk 500 crore by issuing infrastructure and SME zero-coupon bonds.
The regulator also fined Western Securities Investment Management and Island Securities Tk 10 lakh and Tk 2 lakh respectively for violating securities rules.
Source: The Daily Star
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