Kattali Textile's IPO lottery draw tomorrow

The IPO lottery draw of Kattali Textile will be held tomorrow (Thursday) to allocate 34 million ordinary shares among the successful applicants.

The event will be held at 10:30 am at the AGB Colony Community Center in Motijheel, according to a disclosure posted on the Chittagong Stock Exchange (CSE) on Tuesday.

The draw results will be published on the websites of Dhaka Stock Exchange (DSE), Chittagong Stock Exchange (CSE) and the company.

Kattali Textile, which received the IPO approval from the Bangladesh Securities and Exchange Commission (BSEC) on June 26 last, 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 was opened on August 28 and continued till September 13.

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

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

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

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