The Bangladesh Securities and Exchange Commission on Monday approved a Tk 20-crore initial public offering of ML Dyeing Limited.
The BSEC gave the approval at a commission meeting presided over by its chairman Khairul Hossain, a BSEC press release said.
Under the BSEC nod, ML Dyeing will float two crore shares at an issue price of Tk 10 each without any premium.
The entity would use the IPO proceeds for the purchase of machinery and equipment, and to meet up IPO expenses.
As per the financial statement ended on June 30, 2017, the net asset value per share of the entity stood at Tk 23.71 against the weighted average earnings per share at Tk 2.35 each.
No revaluation of the company was made before the IPO approval, the BSEC release said.
NBL Capital and Equity Management Limited and Rupali Investment Limited are the issue managers of the ML Dyeing’s IPO.
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