Nurani Dyeing and Sweater Limited IPO Subscription Open: April 02 ' 2017
Subscription Close: April 10' 2017.
The Bangladesh Securities Exchange Commission (BSEC) approved IPO “Nurani Dyeing & Sweater Ltd.” on Thursday, 09th February, 2017 on their 597 nos Board Meeting presided by BSEC Chairman Prof. Dr. M Khairul Hossain to issue 4.30 crore ordinary shares worth Tk 10 each.
Bangladesh Securities and Exchange Commission on Thursday approved Tk 43 crore initial public offering proposal of Nurani Dyeing and Sweater Limited. The stock market regulator gave the approval in a commission meeting presided over by its chairman M Khairul Hossain. According to the BSEC, Nurani Dyeing will issue 4.30 crore shares of the entity at an issue price of Tk 10, a BSEC press release said. The entity will use the IPO fund for business expansion including machineries and equipment purchasing, steel structure and civil construction, and for repayment of bank loans, it said. As per the company’s audited financial statement for the year ended on June 30, 2016, net asset value per share of the entity was Tk 14.37, while last five years’ weighted average earnings per share was Tk 1.79. The commission at the meeting approved draft prospectus of an open-end mutual fund, UFS-IBBL Shariah Unit Fund worth Tk 200 crore, the BSEC press release said. Of the fund size, Islami Bank Bangladesh Limited as the sponsor of the fund will provide Tk 20 crore, while the rest 180 crore will be collected from general investors by selling units of the fund. Universal Financial Solutions will act as the asset manager of the open-end fund, while Investment Corporation of Bangladesh will be the trustee and custodian. Besides, the regulator on the day also allowed two banks – EXIM Bank and Shahjalal Islami Bank— to float Tk 800 crore Mudaraba Subordinated Bonds collectively. Nature of both the funds will be non-convertible and Mudaraba Subordinated Bond, while their tenure will be 7 years. The face value of the unit of bonds will be Tk 10 each. The banks will use the fund to improve their capital base by fulfilling Bangladesh Bank’s Tire-II requirement. Standard Chartered Bank and Green Delta Insurance Company will work as lead arranger and trustee respectively for both the bonds. - See more at: http://www.newagebd.net/article/8842/nurani-dyeing-gets-nod-for-tk-43cr-ipo#sthash.ncCtddaP.dpuf
The Bangladesh Securities Exchange Commission (BSEC) approved IPO “Nurani Dyeing & Sweater Ltd.” on Thursday, 09th February, 2017 on their 597 nos Board Meeting presided by BSEC Chairman Prof. Dr. M Khairul Hossain to issue 4.30 crore ordinary shares worth Tk 10 each.
Bangladesh Securities and Exchange Commission on Thursday approved Tk 43 crore initial public offering proposal of Nurani Dyeing and Sweater Limited. The stock market regulator gave the approval in a commission meeting presided over by its chairman M Khairul Hossain. According to the BSEC, Nurani Dyeing will issue 4.30 crore shares of the entity at an issue price of Tk 10, a BSEC press release said. The entity will use the IPO fund for business expansion including machineries and equipment purchasing, steel structure and civil construction, and for repayment of bank loans, it said. As per the company’s audited financial statement for the year ended on June 30, 2016, net asset value per share of the entity was Tk 14.37, while last five years’ weighted average earnings per share was Tk 1.79. The commission at the meeting approved draft prospectus of an open-end mutual fund, UFS-IBBL Shariah Unit Fund worth Tk 200 crore, the BSEC press release said. Of the fund size, Islami Bank Bangladesh Limited as the sponsor of the fund will provide Tk 20 crore, while the rest 180 crore will be collected from general investors by selling units of the fund. Universal Financial Solutions will act as the asset manager of the open-end fund, while Investment Corporation of Bangladesh will be the trustee and custodian. Besides, the regulator on the day also allowed two banks – EXIM Bank and Shahjalal Islami Bank— to float Tk 800 crore Mudaraba Subordinated Bonds collectively. Nature of both the funds will be non-convertible and Mudaraba Subordinated Bond, while their tenure will be 7 years. The face value of the unit of bonds will be Tk 10 each. The banks will use the fund to improve their capital base by fulfilling Bangladesh Bank’s Tire-II requirement. Standard Chartered Bank and Green Delta Insurance Company will work as lead arranger and trustee respectively for both the bonds. - See more at: http://www.newagebd.net/article/8842/nurani-dyeing-gets-nod-for-tk-43cr-ipo#sthash.ncCtddaP.dpuf
