SEC gives nod to Orion Pharma IPO

The Securities and Exchange Commission yesterday approved the initial public offering of Orion Pharma, which will raise Tk 240 crore from public.

Orion Pharma will float four crore ordinary shares of Tk 10 each at an offer price of Tk 60, including a premium of Tk 50.

The company’s earnings-per share is Tk 5.57 and net asset value per share is Tk 76.86, according to its 2011 financial statements.

The SEC also gave nod to Rahimafrooz Globatt to raise its paid-up capital by Tk 30 crore through issuing 30 lakh redeemable cumulative preference shares of Tk 100 each.

The regulator cancelled the rights issue of Information Services Network.

The SEC also refused to allow ICB Asset Management Company to invest the raised fund, through pre-IPO placement, of Sonali Bank 1st Mutual Fund in the secondary market.

Source: The Daily Star, October 17, 2012