The Bangladesh Securities and Exchange Commission on Thursday approved the initial public offering of Paramount Textile with an offer price of Tk 28 each share including a premium of Tk 18.
The decision was taken in a regular commission meeting
presided over by BSEC chairman M Khairul Hossain.Paramount Textile will raise Tk 84 crore through the offer which will be used for payment of term loans.
The earning per share of the company was Tk 3.47, according to company’s audited financial statement of 2012.
The BSEC in the same meeting also decided to withdraw the provision of collecting no objection certificate for the participants of director elections of any stock exchange.
The commission will soon issue the official notice in this regard.
The BSEC at Thursday’s meeting fined the directors of Raspit Data Management and Dhaka Fisheries Ltd Tk 1 lakh each for their failure to submit the financial statement to the commission in time.
Salta Capital Limited was fined Tk 5 lakh for its failure to maintain required fund in its account for repayment of the clients on several occasions.
-With New Age input
