HWA Well Textiles (BD) Ltd IPO Approved

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HWA Well Textiles (BD) Ltd IPO Approved.

HWA Well Textiles (BD) Ltd IPO:- The securities regulator Authority, Bangladesh Securities and Exchange Commission (BSEC) approved the initial public offering (IPO) proposal of the HWA Well Textiles (BD) Ltd. on Tuesday to raise Tk 20 crore through public offering.

The approval came at a commission 504th meeting held at the office of the Bangladesh Securities and Exchange Commission (BSEC).

As per the regulatory approval, HWA Well Textiles (BD) Ltd will float 2 crore ordinary shares of Tk 10 each at an offer price of Tk 10 each without  any premium.

The company has said in its prospectus, The proceeds will be used to purchase machinery and land, land development, to build new factory building and to change present machinery.

According to the company’s financial statement for the year ended on June 30, 2013, the company’s earning per share (EPS) and net asset value (NAV) are at Tk 3.66 and Tk 28.25 respectively.

Alpha Capital Management Limited and Citizen Securities and Investment are the issue manager of HWA Well Textiles (BD) Ltd IPO.

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