C&A Textiles, a fully export-oriented knit composite textile company, has received the initial public offer approval from the securities regulator to raise Tk45 crore, said a statement of Bangladesh Securities Exchange Commission (BSEC) yesterday.
The issue will be made through fixed price method with offering 4.5 crore ordinary shares at Tk10 each.
The company that started commercial operation in February 2013 will use the IPO proceeds towards constructing a building, purchasing machinery, bank loan payment and meeting IPO expenses.
Its earnings per share (EPS) is Tk1.78 and net asset value Tk18.38, according to the company's financial statement ended in December, 2013.
BSEC also approved Bangladesh Industrial Finance Company Limited (BIFC) for strengthening the company's capital base, the statement said.
The financial institution will offer one rights share against every existing two shares to raise Tk33.6 crore. It will issue around 3.4 crore rights shares.
The commission fined Fine Foods Limited Tk1 lakh for violating securities rules in making its financial statement of last year, according to the statement.
