IMPRESS-NEWTEX TEXTILE

IMPRESS-NEWTEX COMPOSITE TEXTILES LIMITED IPO Approved

Impress-Newtex Composite Textiles Limited (INCTL) has recently signed an agreement with IDLC Investments Limited to raise capital through Initial Public Offering (IPO). IDLC Investments Limited will act as Manager to the Issue for the IPO. INCTL is a flagship company of Impress Group, a reputed and diversified group of companies having over 30 years of experience in ready-made garments with a proven track record of identifying business opportunities in diversified sectors. The company, established in 1995, is mainly engaged in producing gray knit fabric, dyeing & finishing and export of finished fabrics to 100% export oriented knit garments industries. Meer Sajed-ul-Basher, Group Chief Financial Officer, Impress-Newtex Composite Textiles Limited and Md. Moniruzzaman, Managing Director, IDLC Investments Limited signed the contract. Reaz Ahmed Khan, Chairman and Md. Akram Khan, Managing Director of INCTL, Selim R. F. Hussain, CEO & Managing Director of IDLC Finance, Rubayet-E-Ferdous, Chief Operating Officer, IDLC Investments and other high officials of Impress and IDLC were also present on the occasion, according to a statement issued by IDLC Investments.