The Bangladesh Securities and Exchange Commission on Tuesday allowed
Matin Spinning Mills Ltd to raise capital worth Tk 126.17 crore through initial public offering at an issue price of Tk 37 including premium of Tk 27 each share.
The BSEC made the decision in a regular commission meeting held at its office in the capital.
Matin Spinning will issue 3.41 crore shares of Tk-10 face value each share, a BSEC release said.
The company will use the IPO proceeds to expand its business and to meet up IPO expenses.
As per the audited financial statement of the company ended on June 30, 2013, its net asset value per share was Tk 35.73 with an earning per share of Tk 3.43.
IDLC Investments Ltd acted as the issue manager of Matin Spinning.
The BSEC in the meeting allowed Aramit Cement to raise Tk 25.41 crore by offering one rights share against existing one share at an issue price of Tk 15 including premium of Tk 5 each share.
Aramit Cement will use the IPO fund for acquiring local spare, accessories procurement, civil work, erection and commissioning and repaying term loan and other liabilities, the release said.
AAA Consultants and Financial Advisers Ltd worked as the issue manager of the company.
-With New Age input
