The initial public offering (IPO) subscription of Tosrifa Industries Ltd began Tuesday while IPO subscription of Olympic Accessories Ltd will take place next month, officials said.
Tosrifa Industries: IPO subscription of garment manufacturer will remained open till March 31 for resident Bangladeshi and it will be continued till April 9, for non-resident Bangladeshi (NRB).
Using the fixed price method, the company is set to float above 24.56 million ordinary shares at an offer price of Tk 26, including a premium of Tk 16 for each ten taka share to raise a fund worth above Tk 638.72 million.
The company has offered its 60 per cent share for general public, 20 per cent share for small affected investors, 10 per cent share for NRB and 10 per cent share for mutual fund.
Tosrifa, a flagship of Northern Tosrifa Group, will use the funds from the initial public offering for expansion of business 96.88 per cent and IPO expenses of 3.12 per cent.
The company's earnings per share (EPS) as of December 2013 stood at Tk 2.49 with a net asset value (NAV) per share of Tk 34.41.
IDLC Investments is acting as issue manager of the Tosrifa Industries' IPO.
The securities regulator - Bangladesh Securities & Exchange Commission (BSEC)--approved the IPO proposal of Tosrifa Industries on February 10, 2015.
Presently, 39 textile companies are listed on Dhaka Stock Exchange (DSE) that accounts for 5.0 per cent of the premier bourse's total market capitalisation.
Tosrifa Industries is a 100 per cent export oriented knit apparels manufacturer in Bangladesh. It was established in 2002 at Tongi, Gazipur, according to company's website.
Olympic Accessories: The public subscription of Olympic Accessories will begin April 19 and remain open till April 23 for resident Bangladeshi and it will be continued till May 2 for non-resident Bangladeshi (NRB).
The securities regulator - Bangladesh Securities and Exchange Commission (BSEC) gave a green light to Olympic Accessories to raise Tk 200 million from the public on February 25.
The company is set to float 20 million ordinary shares of Tk 10 each to raise the fund, the stock market, according .
Olympic Accessories will use the fund from the initial public offering for the construction of a new factory building and purchasing machinery.
The company's earnings per share (EPS) as of June last year stood at Tk 1.43 with a net asset value (NAV) per share of Tk 16.34.
PLFS Investments and CAPM Advisory are the issue managers of the IPO.
Olympic Accessories is engaged in manufacturing, processing, printing, cutting, sealing and assembling of all kinds of carton, poly bag, hanger, elastic, draw cord, back board, neck board, ribbon, gum tape, label, twill tape, interlining, bar code and hangtag, according to its website.
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