Rights shares subscription of Zaheen Spinning will begin on July 29 which will raise a capital worth Tk 985.52 million, officials said.
Bangladesh & Exchange Commission ((BSEC) approved the company’s rights issue proposal on March 7.
The company will issue one rights share against one existing share at an offer price of Tk 10 each.
As per the BSEC approval, the company will issue above 98.55 million rights shares to raise a capital worth above Tk 985.52 million.
The company will utilise the fund for expansion of business and capital along with partial repayment of loans.
The company reported net asset value (NAV) per share of Tk 14.07 and earnings per share (EPS) of Tk 1.39 for the year ended on June 30 in 2017.
Each share of the company, which was listed on the Dhaka bourse in 2015, closed at Tk 12.60 on June 12, the last trading day before Eid-ul-Fitr holiday.
In one year, the company’s share price hovered between Tk 11.10 and Tk 29.20.
The company’s paid up capital is Tk 985.53 million and authorised capital is Tk 4.0 billion while total number of securities is 98.55 million.
The sponsor-directors own 31.10 per cent stake in the company while institutional investors own 25.98 per cent and the general public 42.92 per cent as on May 31, the DSE data shows.
The company’s earnings per shares (EPS) stood at Tk 0.26 for January-March, 2018 as against Tk 0.30 for January-March, 2017.
In nine months for July 2017-March, 2018, the company’s EPS was Tk 1.06 as against Tk 1.17 for July 2016-March, 2017.
The net operating cash flow per share (NOCFPS) was Tk 0.49 for July 2017-March, 2018 as against Tk 0.59 for July 2016-March 2017.
The net asset value (NAV) per share was Tk 13.30 as on March 31, 2018 and Tk 14.07 as on June 30, 2017.