Aman Cotton Fibrous Ltd makes its share trading debut on stock exchanges tomorrow (Monday) under "N" category, officials said.
The company floated a total of 20.83 million ordinary shares and raised a fund worth Tk 800 million from the capital market under the book-building method.
Of the total 20.83 million shares, 12.50 million were issued to the eligible investors at the cut-off price of Tk 40 each, which was set by the eligible investors through electronic bidding in November last year.
Remaining 8.33 million shares were issued to the general public, including affected small investors and non-resident Bangladeshis, at 10 per cent discount on the cut-off price, meaning they received each share at Tk 36.
The initial public offering (IPO) subscription of the company was held between June 3 and June 10.
Total subscription received from resident Bangladeshis, affected small investors and non-resident Bangladeshis is Tk 3.49 billion against the public issue of Tk 300 million, which is oversubscribed by 11.64 times.
Aman Cotton will use the IPO fund to buy machinery, repay bank loans and meet the IPO expenses.
The company's profit after tax was Tk 195.10 million and basic EPS of Tk 2.44 for the nine months period ended on 31 March 2018 against profit after tax of Tk 197.43 million and basic EPS of Tk 2.47 for the same period of the previous year.
However, Post-IPO EPS would be Tk. 1.93 for nine months period ended on 31 March 2018.
The net asset value (NAV) per share including revaluation surplus (considering Pre-IPO paid up shares) would be Tk 41.56 as on 31 March 2018.
ICB Capital Management is the issue manager of the IPO.
Aman Cotton Fibrous, a unit of Aman Group, produces carded cotton yarn, combed cotton yarn, and sells the products to export-oriented textile mills and readymade garment factories.
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