VFS Thread to make share trading debut Sept 9

FE Online Report | Published: August 29, 2018 16:31:21 | Updated: September 01, 2018 10:43:21

VFS Thread Dyeing will make its share trading debut on September 09 on both bourses under “N” category, officials said.

DSE trading code for the company is “VFSTDL” and DSE company code is 17478, according to a disclosure posted on the Dhaka Stock Exchange (DSE) website on Wednesday.

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 said 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.

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

According to financial statement for the year ended on June 30, 2017, the company’s net asset value (NAV) per share stood at Tk 19.90 (without revaluation). The weighted average of earnings per share (EPS) was Tk 2.02.

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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