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 makes upbeat debut

The trading of shares of MI Cement began at the CSE on 8 May,2011 with opening price of BDT 122.70 per share. The shares of the company rose further to close at BDT 125.40, shedding from day's highest value of BDT 152. A total of 647,600 shares worth BDT 84.49 million were traded on the day.
MI Cement offloaded total 30 million ordinary shares under the book building method which is currently suspended by the government. The company offered shares at an offer price of BDT 111.60 against face value of BDT 10 each.
CSE President Fakhor Uddin Ali Ahmed said," We decided to enlist MI Cement considering the investor's interest." He also stressed on amending securities lows to restore investor's confidence and help flourish the country’s stock market. He told the reporters that investors will be able to sell their shares by opening clearing accounts with DP instead of linking accounts. He expected that the present crisis over the country’s stock market would overcome soon. He suggested the investors for considering fundamental base of any company before investing their capital and also encouraged them for planning long-term investment.
Md. Jahangir Alam, Chairman of MI Cement said that share price of MI Cement was not overpriced as fundamental of the company is stronger.
“Considering the investors’ interest we have deposited BDT 50 million in escrow account to compensate the investors if the share prices go below the offer price within six months of debut of the shares. We also lined 7.5 million shares from directors for more security.

No comments:

Post a Comment