Two firms may get IPO nod

The securities regulator sits today for giving approval to the initial public offerings of a number of companies, including Rangpur Dairy and Food Products Ltd and Shurwid Industries Ltd.

The Securities and Exchange Commission is also due to give go-ahead to rights offers of several listed companies, said an official.

Rangpur Dairy & Food Products, popularly known as RD Milk, plans to offload more than 1.63 shares to expand business, with a face value of Tk 10 plus a Tk 15 premium, according to the company’s prospectus.

The authorised capital of the company is Tk 100 crore and its paid-up capital stands at Tk 23.66 crore.

The company’s earnings per share were Tk 2.64 and net asset value Tk 20.53 until December 2010. Alliance Financial Service Ltd has been appointed as its issue manager.

Shurwid Industries, a manufacturer of polyvinylchloride (PVC) materials, will offload 1.4 crore shares with face value of Tk 10. It will use the proceeds for repayment of outstanding loan and as working capital.

The net tangible asset per ordinary share is Tk 12.40 as of September 2010 if the revaluation surplus is taken into account, it said. Its annualised EPS is Tk 1.10.

Source: The daily star, 15 June, 2011

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