VFS Thread to make trade debut Sunday

The company's post-IPO EPS Tk 1.10


FE Report | Published: September 07, 2018 16:51:40 | Updated: September 13, 2018 12:01:44


VFS Thread Dyeing will make its share trading debut on Sunday next on both the bourses under 'N' category.

DSE trading code for the company is "VFSTDL" and DSE company code is 17478, according to an official disclosure.

VFS Thread Dyeing, which received initial public offering (IPO) approval from the Bangladesh Securities and Exchange Commission (BSEC) on April 03, raised a fund worth Tk 220 million from the capital market.

The company raised the amount by floating 22 million ordinary shares at an offer price of Tk 10 each under the fixed price method.

The company's public subscription was held on June 24 to July 02 last.

The company will utilise the IPO fund to purchase plant and machinery, repay bank loans and bear the IPO expenses.

The company also published its un-audited quarterly financial statements on Thursday.

As per the un-audited financial statement in nine months for the period of July 2017-March, 2018, the company's net profit after tax was Tk 94.05 million, pre-IPO EPS was Tk 1.50 and post-IPO EPS was Tk 1.11.

The pre-IPO net asset value (NAV) per share was Tk 21.40 and post-IPO NAV is Tk 18.44 as of March 31, 2018.

Citizen Securities & Investment and First Security Islami Capital & Investment are jointly working as the issue managers of the company's IPO.

The company's pre-IPO paid-up capital is above Tk 627.14 million and post-IPO paid-up capital will be above Tk 847.14 million.

Incorporated in Bangladesh in 2010, VFS Thread Dyeing is a 100 per cent export-oriented manufacturer of sewing thread products.

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