Business

Bangladesh: Mozaffar Hossain Spg Mills IPO gets go-ahead

The Bangladesh Securities and Exchange Commission (BSEC) yesterday gave the green light to Mozaffar Hossain Spinning Mills, a textile company, to raise Tk 275 million from public.

Using the fixed price method, the company is set to float 27.5 crore ordinary shares of Tk 10 each. Alfa Capital Management and AFC Capital would manage the initial public offering, the proceedings from which would be used to repay Mozaffar Hossain Spinning Mills’ existing bank loans.

The company’s earnings per share, as of June 2012, stood at Tk 2.78 and net asset value per share at Tk 19.56.
The approval came at a meeting presided over by BSEC Chairman Khairul Hossain, the commission said in a statement.