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The Financial Express

IPO subscription of SK Trims begins Monday

| Updated: May 14, 2018 15:37:45


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The initial public offering (IPO) subscription of SK Trims & Industries will begin tomorrow (Monday), which will raise Tk 300 million from the general public under the fixed price method.

The IPO subscription of the company will remain open till May 22 for resident and non-resident Bangladeshis.

SK Trims, which received BSEC approval in February, will float 30 million ordinary shares at an issue price of Tk 10 each.

A market lot is 500 shares and the required amount (per lot) of foreign currency for NRBs and foreign applicants for IPO of the company is US$ 60.43 or GBP 42.71 or EUR 49.11, according to Dhaka Stock Exchange (DSE).

The company will use the IPO fund for procurement of capital machinery, equipment and raw materials and to meet up IPO expenses.

As per the entity’s audited financial statements for the year ended on June 30, 2017, the company’s net asset value per share and weighted average earnings per share are Tk 12.79 and Tk 1.31 respectively. The company’s basic earnings per share stood at Tk 4.65 for the year ended on June 30, 2017.

The company’s pre-IPO paid-up capital is Tk 400 million and authorised capital is Tk 1.0 billion.

SK Trims & Industries, which started its commercial operation in 2014, engaged in manufacturing of all kinds of swing thread, elastic, poly, carton, photo card, back board, bar code etc for export-oriented garments industry.

Imperial Capital Limited and BMSL Investment Limited are jointly working as issue manager of the company’s IPO.

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