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SK Trims to make debut July 15

FE Report | July 12, 2018 00:00:00

SK Trims & Industries will make its shares trading debut on July 15 (Sunday) on the stock exchanges under "N" category, officials said.

DSE trading code for SK Trims & Industries is "SKTRIMS" and company code is 99,642 while the CSE scrip Id is 32,023 and scrip code is "SKTRIMS".

SK Trims will be the 13th listed company under the miscellaneous sector. The miscellaneous sector accounted for 3.50 per cent of the Dhaka Stock Exchange's total market capitalisation.

SK Trims, which received IPO approval from the Bangladesh Securities and Exchange Commission (BSEC) on February 20, floated 30 million ordinary shares at an issue price of Tk 10 each.

The garments accessories and packaging company raised a fund worth Tk 300 million from the capital market through initial public offering (IPO) under the fixed price method.

The IPO subscription of the company was opened on May 14 and closed on May 22 for the resident and non-resident Bangladeshis.

The company will use the IPO fund for acquisition of machinery and equipment, construction of building and other civil works and bear the IPO expenses, according to the IPO prospectus.

As per the entity's audited financial statements for the year ended on June 30, 2017, the company's net asset value per share and weighted average earnings per share were Tk 12.79 and Tk 1.31 respectively.

The company's pre-IPO paid-up capital is Tk 400 million and authorised capital is Tk 1.0 billion.

SK Trims & Industries, which started its commercial operation in 2014, engaged in manufacturing all kinds of sewing thread, elastic, poly, carton, photo card, back board, bar code etc for export-oriented garments industry.

Imperial Capital Limited and BMSL Investment Limited are jointly working as issue manager of the company's IPO.


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