Saif Powertec Ltd IPO Approved:-The securities regulator Authority, Bangladesh Securities and Exchange Commission (BSEC) approved the initial public offering (IPO) proposal of the Saif Powertec Ltd on Tuesday to raise Tk 36.00 crore through public offering.
The Saif Powertec Ltd IPO approval came at a commission meeting held at the office of the Bangladesh Securities and Exchange Commission (BSEC).
As per the regulatory approval, Saif Powertec Ltd will float 1.20 crore ordinary shares of Tk 10 each at an offer price of Tk 30 each with a premium Tk 20.
The company has said in its prospectus, The proceeds will be used to new battery project and to reach its IPO expenses.
According to the company’s financial statement for the year ended on 30 June 2013, the company’s earning per share (EPS) and net asset value (NAV) are at Tk 3.01 and Tk 24.29 respectively.
ICB Capital Management Ltd is the issue manager of Saif Powertec Ltd IPO.
Saif Powertec Ltd IPO Subscription: Saif Powertec Ltd IPO subscription will start from July 06, 2014. Saif Powertec Ltd IPO subscription period for General Public will from July 06, 2014 to July 10, 2014. Saif Powertec Ltd IPO subscription period for NRB will from July 06 to July 19, 2014
Saif Powertec Ltd IPO at a glance
Subscription: July 06 to July 10, 2014
Market Lot: 200 shares per share @ Tk 30 Total Tk 6000/=
EPS: Tk2.01 NAV: 24.29
General Public (60%): 36,000 lots
Affected Investors (20%): 12,000 lots
NRB (10%): 6000 lots
Mutual Fund (10%): 6000 lots
Total (100%): 60000 lots
Bankers to the Issue of Saif Powertec Ltd IPO:
ICB, National Bank Ltd, Jamuna Bank Ltd, SIBL, MTBL, Dhaka Bank Ltd, Standard Bank Ltd, BRAC Bank Ltd, City Bank Ltd, Bank Asia Ltd.
Download Saif Powertec Ltd IPO Application Form & Prospectus
Foreign Currency Rate of Saif Powertec Ltd IPO
[will be updated soon]
See Details Saif Powertec Ltd IPO Information from below:
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