• Thursday, Nov 15, 2018
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BSEC approves IPO of Kattali Textile

  • Published at 11:45 pm June 26th, 2018
  • Last updated at 11:45 pm June 26th, 2018
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Mahmud Hossain Opu

Kattali Textile is a production unit of Asian Group, established in 2002 with the aim of catering to world-class buyers

The Bangladesh Securities and Exchange Commission (BSEC) on Tuesday approved Kattali Textile Limited’s (KTL’s) Initial Public Offering (IPO) prospectus to raise Tk34 crore from the public.

As per the IPO, KTL will offload 34 million ordinary shares at a fixed price of Tk10 each.

The IPO was approved at a BSEC meeting presided over by its chairman M Khairul Hossain.

According to the Financial Statement ended on June 30, 2017, the KTL’s Net Asset Value (NAV) per share stood at Tk20.48 (without revaluation), and the weighted average of Earning Per Share (EPS) was Tk1.94.

The company will utilize the proceeds from the IPO to purchase capital machinery, repay bank loans, install an electric transformer and to bear IPO expenses.

NRB Equity Management Limited will act as the issue manager for the IPO process.

Kattali Textile is a production unit of Asian Group, established in 2002 with the aim of catering to world-class buyers.

The facility complies with the international structural, environmental, social and ethical standards, and is certified by Wal-Mart, Garan and Golden Touch.

Located at Chowdhury Bari, Colonel Jones Road, North Kattali, Chittagong, KTL has a

monthly production capacity of 450,000 woven tops,

350,000 woven bottoms, 550,000 knit tops and 550,000 knit bottoms.