SEC okays rights offer of three cos

FE Report

The Securities and Exchange Commission(SEC) Tuesday approved the rights offer of threecompanies.

The companies, which have obtained the SEC nod to offer rights are Confidence Cement, Asia Pacific Insurance and Daffodil Computers.

The approval came at the commission meeting held at the commission office with its Chairman Ziaul Haq Khondker in the chair.

Confidence Cement will offer three rights for every 10 existing shares and both the Asia Pacific Insurance and Daffodil Computers will offer one rights for every existing share.

The Confidence Cement will float 7,00,52,000 rights of Tk 100 each at an issue price of Tk 700 per share, including a premium of Tk 600, totaling more than Tk 526 million.

Asia Pacific Insurance will offer 21,17,500 rights shares with an issue price of Tk 150, including a premium of Tk 50 each, totaling more than Tk 317 million.

On the other hand, without any premium Daffodil Computers will float 2,28,53,600 rights of Tk 10.0 each.

Source: The financial Express, 29 July, 2010

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