IPO: Far East Knitting and Dyeing Ltd

Far East Knitting and Dyeing Ltd (FEKDIL) IPO at Secondary Market from August 28, 2014..

Subscription Open: June 15, 2014 Subscription Close: June 19, 2014; Lot 200, Face value Tk 10 , Offer price Tk 27 , Single lot price Tk 5400.

The Securities regulator Bangladesh Securities and Exchange Commission (BSEC) on Tuesday, 25th March, 2014 approved an IPO of Far East Knitting and Dyeing Ltd (FEKDIL) to go for public worth Tk 67 crores 50 lacs to float 2.50 crore shares at offer value at Tk 27 with 17 taka premium. The decision was taken at 513 a regular meeting of the commission chaired by its chairman Mr. Khairul Hossain.

Far East Knitting and Dyeing Ltd (FEKDIL) IPO Result

Bank Code

General Public

NRB

Affected

Mutual Fund

Refund

FEKDIL Information At a Glance

2013    2012    2011
EPS          2.54    4.39      3.51
NAV        19.08           -                       -
Dividend     -,-         -, 40% 20%;1:8.23

The Far East Knitting IPO company will use the IPO fund to repaying bank loan and expenses of the IPO.

As per the company’s financial statements ended on 30th June, 2013, the earning per share (EPS) was 22.54/- with net asset value (NAV) of 19.08/- per share.

IDLC Investment Limited will acts as the issue manger of the IPO.

IPO FORM

Resident Bangladesh (RB) Form

Affected Form

NRB Form

About the Company:

FEKDIL is 100% export oriented garment manufacturing company. It is a composite knit garment facility where it has knitting, dyeing, stitching and printing capabilities. It procures raw yarn from local and foreign

sources and transforms them to finished knitwear in a step-by-step process.

First, the raw yarn is knitted into grey fabric. Then the grey fabric is dyed as per buyer requirements. Next, the dyed fabric is finished, cut, and printed on if required. Finally, the fabric is stitched to produce readymade knitwear. FEKDIL supplies the finished goods to some of the most renowned apparel brands in the world. Its major products are ladies’ and gents’ knitwear i.e. T-Shirt, Tank Top & Vest, Jacket etc.