FE Report
Public subscription of Regent Textile Mills will begin today (Wednesday) while subscription of Information Technology Consultants will take place from November 2, officials said.
Initial public offering (IPO) subscription of Regent Textile, which is set to raise Tk 1.25 billion from the public, will remain open until October 25 for resident and non-resident Bangladeshis (NRBs).
The investors can apply for Regent Textile IPO only through their respective brokerage houses and merchant banks under the mandatory IPO application system.
Using the fixed price method, the export-oriented textile maker is set to float 50 million ordinary shares of Tk 10 each at an offer price of Tk 25, with Tk 15 as premium.
The company will utilise the fund for the purpose of BMRE (Balancing, Modernisation, Replacement and Expansion) along with setting up new business project.
A market lot is 200 shares and an investor needs Tk 5,000 to apply for per lot of Regent Textile's IPO.
The required amount (per lot) of foreign currency for NRBs and foreign applicants for IPO of Regent Textile are US$ 64.60 or GBP 41.78 or EUR 57.46, according to company's IPO prospectus.
The company has offered 60 per cent shares (150,000 lots) for general public, 20 per cent (50,000 lots) for affected small investors, 10 per cent (25,000 lots) for NRBs and 10 per cent (25,000 lots) for mutual funds.
The company's earnings per share (EPS) and net asset value (NAV) are Tk 2.92 and Tk 33.17 respectively, according to financial statement for the year ended on December 31, 2013.
LankaBangla Investment is the issue manager for Regent Textile's IPO.
The securities regulator Bangladesh Securities and Exchange Commission (BSEC) approved the IPO proposal of the company on August 24 this year.
Regent Textile Mills, a concern of Chittagong-based Habib Group, started commercial operation in 1999. The company has annual capacity to weave 12 million metres and dye and print another 14 million metres.
The textile mill holds a capacity to produce approximately 40,000-50,000 metres of fabrics per day, according to the company's website information.
Meanwhile, IPO subscription of Information Technology Consultants will begin November 2 and continue till November 11 for resident and non-resident Bangladeshis (NRBs).
The IT Company will float 12 million ordinary shares at an offer price of Tk 10 each and raise Tk 120 million from the public. The company will use the IPO fund worth Tk 120 million for expansion of business, repayment of bank loans along with bearing the expenses of IPO proceedings.
As per the audited financial statement for the year ended on June 30, 2014, the company's EPS and NAV are Tk 1.04 and Tk 18.28 respectively. The securities regulator approved the IPO proposal of the IT Consultants on September 22, this year.
Established in 2000, the company provides to major banks, financial institutions, government organizations and retailers with an advanced infrastructure for transaction processing services while operating one of the largest banks driven independent ATM network in Bangladesh, according to company's website.
babulfexpress@gmail.com
Blogger Comment
Facebook Comment