The Bangladesh Securities and Exchange Commission on Tuesday approved the initial public offering of Shasha Denims Limited for raising Tk 175 crore from the capital market.
A commission meeting, headed by BSEC chairman M Khairul Hossain, approved the Shasha Denims proposal to float 5 crore ordinary shares at a price of Tk 35 including a premium of Tk 25 each.
According to the audited financial statement of the company as on December 31, 2013 the earning per share of Shasha Denim was Tk 3.73 and net asset value was Tk 52.95.
The issue managers of Shasha Denim are AFC Capital Ltd and Imperial Capital Ld.
The BSEC in the same meeting formed a committee for formulating guidelines for companies
which want to return to the regular trading floor from the over-the-counter market.
The three-member committee will be headed by BSEC executive director Mohammad Anwarul Islam where BSEC directors Abul Kalam and Mansur Rahman will be working as two other members.
The committee was asked to submit the draft guidelines by November 15.
A BSEC press release said that as the non-performing companies listed in the OTC market of Dhaka Stock Exchange were recently trying to come back to the main market, the commission had decided to formulae a guideline to protect inventors’ interest.
-With New Age input
