The Securities and Exchange Commission on Monday approved initial public offerings of two companies and right and preference share offerings of four companies.
The commission approved IPOs and other offerings at a meeting, presided over by its chairman Ziaul Haque Khondker.
SEC executive director Anwarul Kabir Bhuiyan told New Age that the new issues would help to control the overheated market.The commission approved IPO of Desh Bangla Polymar Ltd, which will raise Tk 160 crore issuing 16 crore shares with a face value Tk 10. The company’s paid-up capital was Tk 24 crore as of April 30, 2010. Its earning per share was Tk 3.47.
M I Cement Ltd will raise its paid-up capital by Tk 279 crore through IPO under the book building method with an indicative price of Tk 93 per share against the face value of Tk 10. The company will float 3 crore shares for the investors. As of April 30, 2010, the company’s net asset value was Tk 15.78 a share and earning per share was Tk 1.27.
The commission also approved right share offers of Al-Arafa Islami Bank, Jamuna Bank and Golden Son Ltd and preference share offer of People’s Leasing and Finance Service Ltd. Al-Arafahn Islami Bank Ltd has offered right shares for investors at a ratio of 1:1. The offer price of each share is Tk 10.
Jamuna Bank Ltd has offered right shares at a ratio of 3:1 and with an offer price of Tk 10. Golden Son Ltd has offered right shares at a ratio of 1:1. The offer price of the share is Tk 10 with Tk 20 in premium. The SEC also approved preference shares of People’s Leasing and Finance Service Ltd. The company offered 12 crore fully convertible shares with a face value of Tk 10.
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