The initial public offering (IPO) of Kattali Textile Limited (KTL) will be held on October 4 at the Institution of Engineers, Bangladesh auditorium in Dhaka, the company says
The IPO subscriptions of KTL opened for resident and non-resident Bangladeshis from August 28 to September 13.
The company has floated 34 million shares at an issue price of Tk10 each. The lot has been set at 500 shares. The company aims to raise Tk34 crore from the public.
The Bangladesh Securities and Exchange Commission (BSEC) approved the IPO on June 25.
The company’s audited financial statement for the year ended on June 30, 2017. Its net asset value per share stood at Tk20.48 (without revaluation), and the weighted average of earnings per share (EPS) was Tk1.94.
KTL will utilize the proceeds from the IPO to purchase capital machinery, repay bank loans, install an electric transformer, and bear IPO expenses.
Kattali Textile is a production unit of the Asian Group, established in 2002 with the aim of catering to international buyers.
The facility complies with the international structural, environmental, social, and ethical standards, and is certified by Wal-Mart, Garan, and Golden Touch.
The Chittagong based company has a monthly production capacity of 450,000 woven tops, 350,000 woven bottoms, 550,000 knit tops, and 550,000 knit bottoms.
NRB Equity Management Limited will act as the issue manager for the IPO process.
Source : dhakatribune
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