Keya Cotton Mills Limited, a sister concern of Khaleque Group, recently submitted an application of initial public offering (IPO) to the Securities and Exchange Commission (SEC) seeking approval to raise Tk 750 million (including premium of Tk 250 million) from the stock market.
The money to be raised from the market, if allowed by floating five million shares will be used for repayment of lease liabilities, company sources said.
The proposed face value of the company is Tk 10 each with a premium Tk 5.
The pre-IPO paid up capital of the company is Tk 247 million while as of June, 2008 Earning Per Share (EPS) and Net Asset Value (NAV) stood at Tk 2.98 and Tk 20 respectively.
Keya Cosmetics Limited, a listed company has a stake of 16 per cent share of the Keya Cotton.
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