SK Trims and Industries will make its shares trading debut on July 15 (Sunday) on the stock exchanges under “N” category, officials said.
SK Trims, which received approval from the Bangladesh Securities and Exchange Commission (BSEC) on February 20, floated 30 million ordinary shares at an issue price of Tk 10 each.
The company collected a capital worth Tk 300 million from the capital market through initial public offering (IPO) under the fixed price method.
The IPO subscription of the company was opened on May 14 and closed on May 22 for the resident and non-resident Bangladeshis.
The company will use the IPO fund for purchasing capital machinery, equipment and raw materials, and bearing the IPO expenses.
As per the entity’s audited financial statements for the year ended on June 30, 2017, the company’s net asset value per share and weighted average earnings per share were Tk 12.79 and Tk 1.31 respectively.
The company’s pre-IPO paid-up capital is Tk 400 million and authorised capital is Tk 1.0 billion.
SK Trims & Industries, which started its commercial operation in 2014, engaged in manufacturing of all kinds of swing thread, elastic, poly, carton, photo card, back board, bar code etc for export-oriented garments industry.
Imperial Capital Limited and BMSL Investment Limited are jointly working as issue manager of the company’s IPO.
