Mobil Jamuna IPO subscription starts from Jan 2 next
Monday, 13 December 2010
FE Report
The IPO subscription of the state-run fuel company Mobil Jamuna Lubricants (MJL) - the largest-ever after that of Grameenphone - starts from January 2 next, officials said.
As per subscription schedules, resident Bangladeshis will be allowed to apply for the IPO of MJL from January 2 to January 6. On the other hand, non-resident Bangladeshis will be allowed to apply for IPO from January 2 to January 15.
The Securities and Exchange Commission (SEC) gave the green light to MJL to go public under book building method on November 25 last.
The initial public offering (IPO) size of MJL is Tk 6.09 billion whereas the IPO size of Grameenphone was Tk 4.86 billion. The MJL will float 40 million ordinary shares worth Tk 10 each in face value.
The cut-off price, or IPO price, of each MJL share has been fixed at Tk 152.40 through bidding by institutional investors. It means that an individual will have to apply with Tk 15,240 for a market lot of 100 MJL shares.
The existing paid-up capital of the state company is Tk 1.40 billion and post-IPO paid-up capital will be Tk 1.80 billion. Prime Finance and Investment Limited is the issue manager of MJL.
The IPO subscription of the state-run fuel company Mobil Jamuna Lubricants (MJL) - the largest-ever after that of Grameenphone - starts from January 2 next, officials said.
As per subscription schedules, resident Bangladeshis will be allowed to apply for the IPO of MJL from January 2 to January 6. On the other hand, non-resident Bangladeshis will be allowed to apply for IPO from January 2 to January 15.
The Securities and Exchange Commission (SEC) gave the green light to MJL to go public under book building method on November 25 last.
The initial public offering (IPO) size of MJL is Tk 6.09 billion whereas the IPO size of Grameenphone was Tk 4.86 billion. The MJL will float 40 million ordinary shares worth Tk 10 each in face value.
The cut-off price, or IPO price, of each MJL share has been fixed at Tk 152.40 through bidding by institutional investors. It means that an individual will have to apply with Tk 15,240 for a market lot of 100 MJL shares.
The existing paid-up capital of the state company is Tk 1.40 billion and post-IPO paid-up capital will be Tk 1.80 billion. Prime Finance and Investment Limited is the issue manager of MJL.