Nurani Dyeing makes flying debut

| Updated: October 16, 2017 15:13:37

Nurani Dyeing makes flying debut

Nurani Dyeing and Sweater made its share trading debut on the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) Thursday under "N" category, officials said.


The company's nine months profit after tax stood at Tk 47.63 million and post-IPO earnings per share (EPS) was Tk 0.57 that ended on March 31, 2017 as against profit after tax of Tk 42.24 million for the same period a year ago.


Using the fixed price method, the sweater manufacturer floated 43 million ordinary shares of Tk 10 each and raised a fund worth Tk 430 million from the public.


Nurani Dyeing's IPO subscription was held between April 2 to April 10 for resident and non-resident Bangladeshis.


The company's IPO was oversubscribed by more than 28 times as the company received a total of more than Tk 12 billion against public issue of IPO of Tk 430 million.


The company will use the IPO fund for business expansion (purchase of machineries, equipments, steel structure and civil construction), re-pay the bank loans and IPO expenses.


The company's weighted average earnings per share (EPS) for the last five years stood at Tk 1.79 and net asset value (NAV) per share without revaluation was Tk 14.37 for the year ended on June 30, 2016.


Imperial Capital Limited, CAPM Advisory Limited and EBL Investments Limited jointly worked as issue manager of the company's IPO.



At present, 47 textiles and garment companies are listed on premier bourse accounting for about 4.0 per cent of the premier bourse's total market capitalisation.

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