IPO: Rangpur Dairy & Food Products Ltd (Subscription Open: 11.09.11, Close: 15.09.11) ** Zahintex Industries Ltd (Subscription Open: 18.09.11, Close: 22.09.11) *** AB Bank first Mutual Fund (Subscription Open: 25.09.11, Close: 29.09.11)****Bangladesh Shipping Corporation - RPO (Subscription Open: 09.10.11, Close: 13.10.11)*****First Bangladesh Fixed Income Fund (Subscription Open: 16.10.11, Close: 20.10.11) Right Share:*Federal Insurance Company Ltd(Subscription Period 05.09.2011 to 03.10.2011) Ratio of Rights Issue 2R : 1, Issue Price BDT 10;** International Leasing & Financial Services Ltd(Subscription Period 06.09.2011 to 02.10.2011) Ratio of Rights Issue 1R : 1, Issue Price BDT 100;*** United Airways (BD) Ltd (Subscription Period 22.09.2011 to 13.10.2011) Ratio of Rights Issue 1R : 1,Issue Price BDT 15;****Bank Asia Ltd(Subscription Period 12.10.2011 to 10.11.2011) Ratio of Rights Issue 1R : 4, Issue Price BDT 100;*****Lafarge Surma Cement Ltd (Subscription Period 19.10.2011 to 13.11.2011) Ratio of Rights Issue 1R : 1, Issue Price BDT 100, Record date : 03.10.2011;******Premier Leasing & Finance Ltd (Subscription Period 26.10.2011 to 22.11.2011) Ratio of Rights Issue 1R : 1, Issue Price BDT 100, Record date : 10.10.2011;

MI Cement debut on CSE

Chittagong Stock Exchange (CSE) 5 May gave listing permission to MI Cement in compliance with a directive from the regulator. Recently capital market watchdog, Securities Exchange Commission (SEC) gave directive to DSE and CSE to enlist MI Cement in order to protect the investor’s interest. Following the directive CSE secretariat decided that MI Cement will start trade from 8 May, 2011.
Earlier DSE board turned down the MI Cement   listing application by making an appeal to the capital market regulator to reconsider their directive. They opined rather giving listing permission to the MI Cement it will be wise to refund the investor’s IPO money in the current market situation. Sources in the DSE said, in an official letter sent to the SEC, DSE has explained in which ground they opened in favour of refunding the money to the investors. When contacted CSE president Fakhhor Uddin Ali Ahmed told, "we have found that the financial fundamentals of the MI Cement remained quite strong to get listing permission in the bourses". According to the submitted financial report to the CSE, MI Cement   Earning Per Share stood at BDT 5.53 for nine months and Net Asset Value BDT 50.93 per share.
MI Cement   offered cash companion in case of any primary shareholders sells their share under in the indicative price within 6 months of trading from the directors’ money. They have opened a bank account by depositing BDT 500 million to compensate the investors in the first stage. The officials of MI Cement   decided to deposit additional money, if requires. In addition to that, MI Cement   authority will also transfer two million shares of company directors in favour of the CSE account as part of the compensation plan. SEC has given waiver in the first 6 months as lock-in period for shares of directors’ portion. According to the existing law, manufacturing company sponsor portion has a lock- in period of 3 years from the date of listing. Each indicative share price has been fixed at BDT 111.60 against face value of BDT 10 each.

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