The Dhaka Stock Exchange on Sunday gave nod to
prospectuses of initial public offerings of Bangladesh Submarine Cable Company, Unique Hotel and Resorts Ltd and Padma Life Insurance Company.
The bourse’s board will now forward its
recommendations in favour of the prospectuses of the three companies to the
Securities and Exchange Commission for approval, DSE sources said.
The state-run submarinecable company will float 3.10 crore ordinary shares of Tk 10 each at an
offer price of Tk 35 including Tk 25 premium, using the fixed price method.
The company after revising its previous listing plan
had submitted its IPO prospectus to the SEC, which forwarded it to the DSE,
officials said.
Earlier the telecom service provider planned listing
through a direct listing method, but now it opts for a fixed price system.
The existing paid-up capital of BSSC is Tk 87.50
crore.
The net asset value per share with asset revaluation
is Tk 17.56 and without asset revaluation is Tk 15.69. The existing earnings
per share of the company is Tk 3.37.
Unique Hoteland Resorts Ltd, the owner of TheWestin Dhaka, will float 2.60 crore ordinary shares of Tk 10 each at an
offer price of Tk 115 including Tk 105 premium, using the fixed price method.
The company recently submitted its IPO prospectus to
the stock market regulator revising its listing plan from book building to a
fixed price method.
Previously, under the book building method, the
indicative price was fixed at Tk 185 per share.
The number of shares was also reduced from previously
planned three crore primary shares under the book building method.
Earning per share of Unique Hotel, whose existing paid-up
capital is Tk 230 crore, is Tk 5.85, while net asset value per share is Tk
77.62.
Padma LifeInsurance Company will float 1.2 crore shares with a face value of Tk 10.
Source: by Ahmed
Shawki, New Age (October 10, 2011)
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