National Feed, C & A Textiles get listing approval

National Feed Mill Limited (NFML) and C & A Textiles got listing approval from the Dhaka Stock Exchange (DSE) Tuesday and debut trading date of these two companies will be announced soon, officials said.
The approval came at a DSE board meeting held Tuesday at the board room of the bourse chaired by its Chairman Justice Siddiqur Rahman Miah.
National Feed Mill: The company floated 18 million ordinary shares at an offer price of Tk 10 and raised a fund worth Tk 180 million from public using the fixed price method.
The public subscription of the animal food producer was held on October 26 from October 30 for resident Bangladeshi and it was continued till November 8, 2014 for non-resident Bangladeshi (NRBs). The market lot of the company is 500 shares.
The lottery of the company was held on November 27, 2014. IPO subscription of the company hit around 47 times high as the company received above Tk 8.44 billion against public issue of Tk 180 million.
The fund raised through the IPO is being used for repayment of bank loan and expansion of business along with boosting working capital, according to the company's IPO prospectus.
As per the audited financial statement for the year ended on June 30, 2013 the earnings per share (EPS) and net asset value (NAV) of the National Feed Mills are Tk 1.85 and Tk 14.55 respectively.
ICB Capital Management and PLFS Investments jointly managed the National Feed Mill's IPO.
The securities regulator -- Bangladesh Securities and Exchange Commission (BSEC) approved IPO proposal of the National Feed Mill on August 26 of last year.
The company is engaged in manufacturing of all kinds of feed for poultry, shrimp, fishery & cattle, according to the company's IPO prospectus.
C & A Textiles: Under the fixed price method, the company floated 45 million ordinary shares at an offer price of Tk 10 and raised a fund worth Tk 450 million from the public. A market lot is 500 shares.
The IPO subscription of the textiles company was held between November 9 to November 13 for resident Bangladeshi and it was continued till November 22, 2014 for non-resident Bangladeshi (NRBs).
The textiles company's IPO subscription hit over 20 times high on its offer. The total subscription received Tk 9.10 billion against demand offer of Tk 450 million.
In accordance with the audited financial statement for the year ended on December 31, 2013, the company's earnings per share (EPS) and Net Asset Value (NAV) are Tk 1.78 and Tk 18.38 respectively.
Proceeds from IPO is being used for re-payment of bank loan, construction of building & acquisition of machinery and IPO expenses, according to the company's IPO prospectus.
AFC Capital and Imperial Capital are working as issue managers of the C & A Textiles' IPO.
At present 37 textiles companies are listed on the DSE that accounts for around 5 per cent of the DSE's total market capitalisation.
The securities regulator approved the IPO proposal of C & A Textiles on September 23 of last year.
The C & A Textiles started its commercial operation on 7th February, 2003.
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