KDS, Simtex to raise Tk 840m

Initial public offering (IPO) subscription of two companies - KDS Accessories Ltd and Simtex Industries Ltd will take place this month to raise aggregate amount of Tk 840 million from the public, officials said.
The initial public offering (IPO) subscription of KDS Accessories, a sister concern of KDS Group Bangladesh, will begin August 9 to raise Tk 240 million from the public.
IPO subscription will remain open until August 20 for resident and non-resident Bangladeshis (NRBs).
The investors can apply for KDS Accessories IPO only through their respective brokerage houses and merchant banks as the securities regulator made the submission of application for IPO through merchant banks and brokerage houses mandatory recently instead of applying through banks.
Using the fixed price method, the trims and packaging manufacturer is set to float 12 million ordinary shares of Tk 10 each at an offer price of Tk 20, with Tk 10 as premium.
On the other hand, the public subscription of Simtex Industries Ltd will begin August 24 to raise Tk 600 million from the public.
The IPO subscription will remain open until September 1 for resident and non-resident Bangladeshis (NRBs).
The securities regulator approved the IPO proposal of Simtex Industries on June 9 to raise a fund worth Tk 600 million from the public.
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