DHAKA: Subscription to the initial public offering (IPO) of Argon Denims, an export oriented textile Denim fabrics manufacturer, is set to kick off on November 26.
The IPO subscription will remain open until December 2 for resident Bangladeshis and December 11 for non-resident Bangladeshis.
The company will raise Tk 30 crore from public through issuing three crore ordinary shares of Tk 35 including a premium of Tk 25 each.
Argon Denims will collect Tk 105 crore in total through IPO subscription. As the market lot has been fixed at 200 shares, investors will have to pay Tk 7,000 per lot.
According to company prospectus, the IPO proceeds will be used for loan payment and expansion of business.
The company’s earnings per share (EPS) was Tk 5.46 as per the 2011 Financial Statements.
Lankabangla Investment Limited is working as Issue Manager for the company.
BDST: 1544 HRS, NOV 24, 2012
Edited by: Shahin Afroz, Newsroom Editor / SM Salahuddin, Output Editor
eic@banglanews24.com
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