Kattali Textile to make debut today

Kattali Textile Ltd will commence its share trading debut today (Monday) on Dhaka and Chittagong Stock Exchanges under "N" category, officials said.

Kattali Textile will be the 53th listed company under textile sector in the DSE. The textile sector accounted for about 4.0 per cent market capitalisation of the prime bourse.

The DSE trading code for Kattali Textile is "KTL" and DSE company code is 17480 while the CSE scrip code is "KTL" and scrip ID is 12068.

Kattali Textile, which received the IPO approval from the Bangladesh Securities and Exchange Commission (BSEC) on June 26, raised a fund worth Tk 340 million from the capital market under the fixed price method.

The initial public offering (IPO) subscription of the company ended on September 13.

The proceeds from the IPO subscriptions of Kattali Textile will be utilised for constructing its factory building and employees' dormitory, purchase machinery for an extended unit, install electric transformers and generators, repay bank loans and bear the IPO expenses.

The company's net asset value (NAV) per share was Tk 20.48 (without revaluation) as on June 30, 2017 while the earning per share was Tk 1.94.

The NRB Equity Management is acting as the issue manager for the company's IPO.

Incorporated in 2002, the Chittagong based Kattali Textile is specialised in the production of woven and knit tops and bottoms.

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