• Monday, Nov 19, 2018
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VFS Thread Dyeing will offer IPO subscriptions starting Sunday

  • Published at 11:47 pm June 20th, 2018
  • Last updated at 11:47 pm June 20th, 2018
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The VFS Thread Dyeing factory is located in Gazipur city. The Company has no subsidiary, associate, or holding company

The initial public offering (IPO) of VFS Thread Dyeing Limited will begin on Sunday June 24. The company is aiming to raise Tk22 crore from the general public.

The company IPO will remain open till July 2 for both resident and non-resident Bangladeshis. The company will float 22 million shares at an issue price of Tk10 each. A market lot is 500 shares.

VFS Thread Dyeing received IPO approval from the Bangladesh Securities and Exchange Commission (BSEC) in April.

VFS Thread will use the IPO funds to purchase capital machinery and plant, pay bank loans, and to cover IPO expenses.

The entity’s audited financial statement for the year ended on June 30, 2017, shows its net asset value (NAV) per share and weighted average earnings per share (EPS) are Tk19.90 and Tk 2.25 respectively.

Citizen Securities and Investment Limited, and First Security Islami Capital and Investment Limited, are the issue managers of the company’s IPO.

The Company started commercial operation on July 02, 2012. The principal activities of the company are dyeing and finishing of sewing thread geared entirely towards export-oriented readymade garments industries in Bangladesh.

The VFS Thread Dyeing factory is located in Gazipur city. The Company has no subsidiary, associate, or holding company.