IPO lottery draw of ML Dyeing Thursday

FT ONLINE

The initial public offering (IPO) lottery draw of ML Dyeing Ltd will be held on Thursday (August 9), officials said.

The event will be held at the auditorium of the Institution of Engineers Bangladesh (IEB) in Dhaka at 10:30am.

After the lottery draw, the result will be published on the websites of Dhaka and Chittagong Stock Exchanges, issue manager, and the company.

The ML Dyeing floated 20 million ordinary shares at an offer price of Tk 10 each and raised a fund worth Tk 200 million from the capital market under the fixed price method.

The market lot was 500 shares and an investor deposited Tk 5,000 to apply for one lot.

The required amount (per lot) in foreign currency for non-resident Bangladeshis (NRBs) and foreign applicants is US$ 60.28 or GBP 45.24 or EUR 51.50, according to the Dhaka Stock Exchange (DSE).

According to the financial statement for the year ended on June 30, 2017, the net asset value (NAV) per share of the company stood at Tk 23.17 and earnings per share (EPS) Tk 1.58.

The fund will be used to purchase machinery and bear the expenses of the IPO process.

NBL Capital, Equity Management Limited, and Ruplali Investment are jointly working as the issue manager for the IPO.

ML Dyeing is located at Bhaluka in Mymensing and produces Hanks Dyeing, Acrylic Yarn, Cotton Yarn, Cone Dyeing, and Piece Dyeing for the export-oriented garment industry.