The Bangladesh Securities and Exchange Commission on Tuesday approved initial public offering of Hamid Fabrics Ltd to issue three-crore shares at the price of Tk 35 each with a premium of Tk 25. The decision was made in a regular commission meeting presided over by BSEC chairman M Khairul Hossain. Hamid Fabrics will raise Tk 105 crore and will spend the money for repayment of loan and expansion of business.
According to the audited financial account of the company for 2013, the earning per share is Tk 2.97 and net asset value is Tk 41.41.
Meanwhile, the stock market regulator in the same meeting also approved the rights share offer of the state-run Investment Corporation of Bangladesh at a ratio of one rights share against two existing shares.
The offer price of each rights share is Tk 500 including Tk 400 premium.
The ICB will raise Tk 1,054.68 crore and spend the money for repayment of loan and investment in the primary and secondary market.
The BSEC also approved Tk 300-crore non-convertible bond of LankaBangla Finance Ltd for the institutional investors.
The price of each unit of the bond will be Tk 1,000 and must be collected through private placement.
LankaBangla will meet its current account requirement with the money.
The BSEC also allowed Active Fine Chemicals Ltd to raise Tk 120 crore through private placement from institutional investors.
Active Fine will float tow-crore shares at the price of Tk 60 per share including a premium of Tk 50.
The shares, however, will be locked in for three years.
-With New Age input
