Ring Shine debuts tomorrow

Staff Correspondent | Published: 00:00, Dec 11,2019


Trading of shares of Ring Shine Textiles will begin on the Dhaka Stock Exchange tomorrow, the bourse decided on Tuesday.

An official of the bourse  said that the debut trading of the company was slated for Thursday, one day after the company’s record date related to corporate disclosures, to avoid violating the new circuit breaker rules.

On November 21, Ring Shine declared 15 per cent stock dividend for the year ended on June 30, 2019 for the first time in six years, as per the information available in its IPO prospectus.

The company set December 11 for the record date.

The company raised Tk 275 crore through issuance of placement shares from 2006 to 2012 and the shares were allotted in 2018.

The company raised Tk 150 crore through its initial public offering that lifted the post-IPO paid up capital to Tk 435.05 crore.

The declaration of stock dividends will add around 6.5 crore shares or Tk 65 crore to the existing paid up capital. The bonus shares that would be allotted to shareholders other than those of the sponsor and director will be locked-in free.

The company is going to enter the capital market with a whopping paid up capital of Tk 500 crore.

The company also reported earnings per share of Tk 1.72 for the year ended on June 30, 2019.

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