Kattali Textile Limited will allocate 34 million ordinary shares among the successful applicants as the company's IPO lottery draw was held on Thursday.
The event was held at the AGB Colony Community Center in Motijheel, according to the Chittagong Stock Exchange.
The initial public offering (IPO) lottery result has been published on the websites of Dhaka Stock Exchange (DSE), Chittagong Stock Exchange (CSE) and the company.
Kattali Textile, which received the IPO approval from the Bangladesh Securities and Exchange Commission (BSEC) on June 26 last, raised a fund worth Tk 340 million from the capital market under the fixed price method.
The initial public offering (IPO) subscription of the company was opened on August 28 and continued till September 13.
The company's IPO oversubscribed by more than 25 times as the company received about Tk 8.56 billion against public issue of Tk 340 million.
The proceeds from the IPO subscriptions of Kattali Textile will be utilised to construct its factory building and employees' dormitory, purchase machinery for an extended unit, install electric transformers and generators, repay bank loans and bear IPO expenses.
The company's net asset value (NAV) per share was Tk 20.48 (without revaluation) on June 30, 2017 while it’s earnings per share (EPS) was Tk 1.94.
The NRB Equity Management is acting as the issue manager for the company's IPO.
Located at Pahartoli in Chittagong, Kattali Textile specialises in the production of woven, knit tops and bottoms and served many international buyers in North America and European markets, according to the company's website.
