Tag Archives: roadshow

Ananda Shipyards hosts IPO price discovery road show

Ananda Shipyards and Slipways Limited hosted a ‘Price Discovery Road Show’ Monday in the city.

A total of 30 million (3 crore) shares will be floated with the IPO at a face value of Tk 10.

The authorized capital of Ananda Shipyard is Tk five billion (500 crore) and the issued shared capital Tk 1.9 billion (190 crore).

Chairman of Ananda Shipyards Abdullahal Bari,managing director Afrozi Bari, deputy managing director Abdullah Nahid Nigar, executive director Tariqul Islam, among others, were present at the program.

Ananda Shipyards raised the country’s international standard of shipbuilding by exporting the Stella Maris Denmark in May 2008 followed by another export of six ships to Mozambique and Stella Moon Denmark, the 8th ship, to be exported from Bangladesh.

The shipyard is now busy with construction of 10 ships. They are also working on the construction of oil tanker, tugboat and repairing of two crane boats of astanding order amounting USD 129 million.

Issue manager and director of Prime Finance Capital Management Rezaul Haque,managing director Mosharraf Hossain, investors from various institutions, DSE, CSE officials were also present on the occasion.

Source: The financial express,  19 January, 2011

Far East Knitting holds roadshow for IPO

Far East Knitting and Dyeing Industries Ltd, a Gazipur-based garment company, is set for the stockmarket to raise Tk 150 crore from investors to expand operations.

The company held a roadshow at Dhaka Sheraton Hotel yesterday for price discovery under the newly introduced book-building method.

Managing Director of Far East Knitting and Dyeing Asif Moyeen said the face value of each share has been fixed at Tk 10 and the proposed premium at Tk 40.

“We will offload three crore ordinary shares to raise the amount,” Moyeen said.

Of the total fund, Tk 80 crore would be spent on establishing a spinning mill at Nouhati, 124 kilometres north-east of Dhaka on Dhaka-Sylhet highway under Habiganj district, Moyeen said.

“I have a target to go into production at a 26,000 spindles capacity spinning mill within October 2012,” he said.

The company will spend Tk 30 crore on expansion of units such as printing, embroidery and dyeing.

The rest of the money will go into paying off the company’s liabilities.

The company established in 1994 has exported garment items worth Tk 130 crore in fiscal 2009-10, the company managing director said.

Moyeen said his company sends 65 of his products to UK’s Tesco, Newlook, Kevinham and Mackay.

Monoprix and Promode, two brands of France, import 25 percent of his products.

The paid-up capital of the company is Tk 6.4 crore. It received approval from the Securities and Exchange Commission on December 29 last year for floating an initial public offering under the book-building method. IDLC Finance Ltd is acting as the Issue manager for the IPO.

Source: The daily star, 17 Jan, 2011