As per primary status IPO over subscript about 6.5 times then ipo size .
Matin Spinning Mills Ltd will be issued 34,100,000 ordinary shares from public and can take 1,261,700,000 taka through IPO.
Primary Status of IPO of Matin Spinning Mills Ltd.:
Total amount of subscription (excluding NRB)=Tk.7,881,740,000.00 & Total No. of application=940,143. Total amount received from NRB Tk. 96,940,000.00 & Total application from NRB=13,100 up to 6 February 2014.
So Total application received including NRB up to 6th February is
=953,243 against 1,70,000 lots, hence Initial Public Offering over
subscript 5.6 times as per primary status. But it is the 6.5 now as per final status.
Manufacturing
combed and carded yarn from raw cottonranging from 10/s (pronounced “10
single”) to 55/s count. Major product of Matin Spinning Ltd is Combed,
Carded, Synthetic and Slub Yarn.
According to the prospectus,
the Initial Public Offering proceed for pay off Tk.1,230,257,270 will be
utilized for Expansion of Existing Plant (Melange Project) and
Tk.31,442,730 for IPO Expenses.
As per financial report on 30
June, 2013, EPS =3.97/-; NAV=20.04/- and 35.73 with revaluation reserve.
IDLC Investment Limited will act as a Issue Manager of this IPO.
