The Bangladesh Securities and Exchange Commission on Tuesday approved a proposal of Mozaffar Hossain Spinning Mills Limited to go for initial public offering to raise Tk 27.50 crore.
The company will float 2.75 crore shares through the process at an offer price of Tk 10 per shares, said a BSEC press release. The company will use the IPO fund to repay its term loan and meet up the IPO expenses, it said.
According to the audited financial accounts of the company ended on 30 June 2012, the net asset value per share of the company is Tk 19.56 while earning per share is Tk 2.78.
Alliance Financial Services Limited and AFC Capital Limited are jointly working as issue manager of Mozaffar Hossain Spinning Mills.
The commission on the day approved the redemption process of the First Bangladesh Shilpa Rin Sangstha Mutual Fund under the Bangladesh Development Bank Limited, the BSEC release said.
The release also said that BDBL would execute the redemption process as per the Securities and Exchange Commission Mutual Fund Rules -2001.
The net asset value per unit of First Bangladesh Shilpa Rin Sangstha Mutual Fund was Tk 105.27 against its cost price of Tk 34.18 per unit as per the latest disclosed information.
-With New Age input
