The Dhaka Stock Exchange on Wednesday decided to enlist two companies — Saif Powertec Limited and Ratanpur Steel Re-Rolling Mills Limited. The DSE made the decision at a board meeting presided over by its chairman Siddiqur Rahman Miah. The Bangladesh Securities and Exchange Commission this year allowed the companies to raise capital from the capital market. Ratanpur Steel Re-Rolling Mills Limited raised Tk 100 crore by floating 2.50 crore shares through an initial public offering.
The issue price of the company was set at Tk 40 a share including a premium of Tk 30.
RSRM will use the IPO fund for repayment of bank loans, to meet working capital requirement and IPO expenses.
According to the RSRM’s financial statement for the year ended on June 30 last year, the weighted average earning per share of the company was Tk 4.58 and revalued net asset value was Tk 53.69 crore.
Janata Capital and Investment and Trust Bank Investment are the issue managers of the company.
Saif Powertec raised Tk 36 crore floating its 1.20 crore shares to implement its new battery project and to meet IPO expenses.
The issue price of each share of the company was set at Tk 30 including a premium of Tk 20 against the face value of Tk 10 each share.
As per the last financial statement of the company ended on June 30, 2013, last five years’ weighted average earning per share of Saif Powertec stood at Tk 3.01, while revalued net asset value per share stood at Tk 24.29.
-With New Age input
