ACI Formulations Limited and Shinepukur Ceramics Limited will make debut on November 18 in the country's bourses under direct listing regulations.
The two issues will be the first private companies to be traded under direct listing regulations after five-state owned enterprises.
The Dhaka Stock Exchange (DSE) board of directors has earlier decided that the trading will begin after seven days from the date of submission of published information documents (IDs) of the two issues.
"The trading of the ACI Formulations and Shinepukur Ceramics will begin from November 18 as all formalities has been completed," said a DSE official.
ACI Formulations Limited submitted the published IDs Tuesday and Shinepukur Ceramics Limited on Wednesday to the DSE.
Earlier on October 26, the DSE sub-listing committee has approved direct listing of the two issues.
On October 6, the ACI Formulations, a subsidiary of ACI Limited, and on October 5 Shinepukur Ceramics, a subsidiary of Beximco Limited, applied to the prime bourse for direct listing under Direct Listing Regulations, 2006.
The ACI Formulations disclosed to sell a maximum of 9,000,000 ordinary shares of Tk. 10 each out of its holding of 22,000,000 shares in the stock market .
The ACI company sources said, the raised money will be utilised for investing in new projects or sectors which have proven track records of giving lower pay back with high returns, rewarding the shareholders with good returns commensurate with their contribution and taking steps to strengthen the balance sheet of the company.
The Shinepukur Holdings disclosed that 3,50,11,800 ordinary shares of Tk. 10 each (Face value Tk. 35,01,18,000) of Shinepukur Ceramics Ltd will be offloaded through direct listing under direct listing regulations.
The fund raised from the stock market will be utilised for investment in Beximco's subsidiary companies (including Shinepukur Ceramics Limited) for expansion of their capacities, repayment of their debts, diversification of their businesses and providing working capital, according to sources in the Beximco.
The five state-owned companies - DESCO, Power Grid, Meghna Petroleum Limited and Jamuna Oil Company Limited - offloaded their shares in the stock market under direct listing rules.
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