IPO of GPH Ispat approved

FE Report The Securities and Exchange Commission (SEC) has approved the initial public offering (IPO) of GPH Ispat, official said. The company will raise Tk 600 million by floating 20 million shares among the public. The decision was taken at the commission's 408th regular meeting chaired by the SEC chairman Professor M Khairul Hossain on Tuesday. The Executive director and spokesperson of the SEC Mohammad Saifur Rahman confirmed the news Wednesday noon and said that the company will raise Tk 600 million with floating 20 million shares. Face value of each share is Tk 10. But IPO price stands at Tk 30 after addition of Tk 20 premium. The company's earning per share (EPS) is at Tk 3.66.