RAK Ceramics to go public under Book Building Method
Friday, 25 December 2009
FE Report
RAK Ceramics Limited has obtained the approval of Securities and Exchange Commission (SEC) to float shares as the first company under Book Building Method, the SEC said Thursday.
"We have okayed the floatation of the shares of RAK Ceramics under the Book Building method and it is a milestone in the history of stock market.," SEC executive director ATM Tariquzzaman told newsmen.
RAK Ceramics will offload 30 million shares, which will have an indicative price of Tk 40, where the face value of each share is fixed at Tk 10. According to SEC's approval, the issue price can be increased or decreased up to 20 per cent in both sides on the basis of its indicative price. The five-parties-- stake holders, issue manager, the investors, the company and DSE will fix the issue price of the RAK Ceramics.
After fixing the issue price the number of shares, which will be offloaded, may be increased or decreased, SEC spokes man and executive director Mr. Farhad Ahmed said.
The company's existing paid-up capital is Tk 1.95 billion. The Earning Per Share (EPS) and Net Asset Value (NAV) of the company are Tk 1.09 and Tk 12.56 respectively as on July 27, 2009.
RAK is a middle-east-based manufacturing company.
RAK Ceramics Limited has obtained the approval of Securities and Exchange Commission (SEC) to float shares as the first company under Book Building Method, the SEC said Thursday.
"We have okayed the floatation of the shares of RAK Ceramics under the Book Building method and it is a milestone in the history of stock market.," SEC executive director ATM Tariquzzaman told newsmen.
RAK Ceramics will offload 30 million shares, which will have an indicative price of Tk 40, where the face value of each share is fixed at Tk 10. According to SEC's approval, the issue price can be increased or decreased up to 20 per cent in both sides on the basis of its indicative price. The five-parties-- stake holders, issue manager, the investors, the company and DSE will fix the issue price of the RAK Ceramics.
After fixing the issue price the number of shares, which will be offloaded, may be increased or decreased, SEC spokes man and executive director Mr. Farhad Ahmed said.
The company's existing paid-up capital is Tk 1.95 billion. The Earning Per Share (EPS) and Net Asset Value (NAV) of the company are Tk 1.09 and Tk 12.56 respectively as on July 27, 2009.
RAK is a middle-east-based manufacturing company.