FE Report
The road show for the forthcoming initial public offering (IPO) under book building method of STS Holdings, the owner of Apollo Hospital Dhaka, will be held today (Monday), officials said. The road show will be held at the Radisson Blu Water Garden Hotel at 7.00pm, where eligible institutional investors will get information about various aspects of the STS Holdings at the road-show. Book-building is a process through which an issuer attempts to determine the price to offer for its security by gauging the demand from eligible institutional investors. The price of an IPO share is determined through automated bidding joined by eligible institutional investors.
The shares are then opened to the IPO participants at the bidding cut-off price after approval from the securities regulator Bangladesh Securities and Exchange Commission (BSEC). "All eligible investors (as per Bangladesh Securities and Exchange Commission, public issue rules 2015) are invited to participate in the road show for the forthcoming initial public offering of STS Holdings under book-building method," the company said in a recent disclosure. Eligible institutional investors - merchant banks and portfolio managers, asset management companies, mutual funds, stock dealers, banks, financial institutions, insurance companies, alternative investment fund managers and other institutions approved by the securities regulator - will get demonstration about various aspects of the company at the road-show. ICB Capital Management Limited (ICML) and AFC Capital Limited have been appointed as Managers to the Issue and LangkaBangla Investment Limited has also been appointed as Registrar to the issue. Earlier in 2010, the STS Holdings submitted application to the Bangladesh Securities and Exchange Commission (BSEC) for issuing 30 million ordinary shares at an offer price of Tk 125, including Tk 115 as premium.
Blogger Comment
Facebook Comment