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Kattali Textile to offer IPO subscriptions from August 28

  • Published at 01:08 am August 3rd, 2018
dhaka stock market DSE
File photo of Dhaka Stock Exchange Limited Dhaka Tribune

The IPO will stay open for both resident and non-resident Bangladeshis till September 13

The Initial Public Offering (IPO) of Kattali Textile Limited (KTL) will begin on August 28. The company is aiming to raise Tk34 crore from the general public.

The IPO will stay open for both resident and non-resident Bangladeshis till September 13. The company will float 34 million shares at an issue price of Tk10 each. The lot size has been set at 500 shares.

The IPO of KTL was approved by the Bangladesh Securities and Exchange Commission (BSEC) on June 25.

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 bear IPO expenses.

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.

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