IIDFC, Beacon Pharma seek SEC nod for IPO floatation
Tuesday, 3 November 2009
FE Report
Industrial and Infrastructure Development Finance Company Limited (IIDFC) and Beacon Pharma have submitted Initial Public Offering (IPO) prospectuses to the Securities and Exchange Commission (SEC) for approval.
"We just received the submitted prospectuses and it will take a few days to say something after scrutiny," said an SEC official. He said, IIDFC wants to issue five hundred thousand shares through IPO where each share will have a face value of Tk. 100 and premium Tk. 150.
According to the official, Beacon Pharma wants to issue three million shares and each share will have a face value of Tk. 10 and no premium.
Meanwhile, non-banking financial institution GSP Finance (Bangladesh) Limited must float Initial Public Offering (IPO) by next June, said an official of SEC Monday.
"Last year the company issued 18.7 million (1.87 crore) bonus shares but failed to enter the stock market through IPO according to SEC's condition. However, on November 1, 2009 SEC approved the company's another bonus issue but said that it must float IPO by next June," the SEC official told the FE.
SEC will send a letter to the company to this effect soon, he said adding according to SEC's condition, GSP Finance is going issue 102, 850 bonus shares within a very short span of time.
GSP Finance, introduced on October 29, 1996 with the Registrar of Joint Stock Companies and Firms, started its commercial operation from the 17th April, 1996 under a licence granted by Bangladesh Bank in accordance with the Financial Institutions Act of 1993.
The company's paid up capital is Tk. 205.7 million while its shareholders' equity is Tk. 486.67 million and 74.07 per cent of its shares are held by foreign investors.
Industrial and Infrastructure Development Finance Company Limited (IIDFC) and Beacon Pharma have submitted Initial Public Offering (IPO) prospectuses to the Securities and Exchange Commission (SEC) for approval.
"We just received the submitted prospectuses and it will take a few days to say something after scrutiny," said an SEC official. He said, IIDFC wants to issue five hundred thousand shares through IPO where each share will have a face value of Tk. 100 and premium Tk. 150.
According to the official, Beacon Pharma wants to issue three million shares and each share will have a face value of Tk. 10 and no premium.
Meanwhile, non-banking financial institution GSP Finance (Bangladesh) Limited must float Initial Public Offering (IPO) by next June, said an official of SEC Monday.
"Last year the company issued 18.7 million (1.87 crore) bonus shares but failed to enter the stock market through IPO according to SEC's condition. However, on November 1, 2009 SEC approved the company's another bonus issue but said that it must float IPO by next June," the SEC official told the FE.
SEC will send a letter to the company to this effect soon, he said adding according to SEC's condition, GSP Finance is going issue 102, 850 bonus shares within a very short span of time.
GSP Finance, introduced on October 29, 1996 with the Registrar of Joint Stock Companies and Firms, started its commercial operation from the 17th April, 1996 under a licence granted by Bangladesh Bank in accordance with the Financial Institutions Act of 1993.
The company's paid up capital is Tk. 205.7 million while its shareholders' equity is Tk. 486.67 million and 74.07 per cent of its shares are held by foreign investors.