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Esquire Knit Composite Limited Company Information & Result

The Bangladesh Securities Exchange Commission (BSEC) approved IPO Esquire Knit Composite Limited on Thursday, 27 September 2018 at their 658 nos Board Meeting. Presided by BSEC Chairman Prof. Dr. M Khairul Hossain to raise Tk. 150 crore by offloading around 3.49 crore shares at a price of Tk. 40 to Tk. 45 each share. The commission on February 22, 2018 allowed Esquire Knit Composite to conduct eligible institutional investors bidding under the book building method of public issue rules.
The commission, under new public issue rules, decided to offer EKCL’s IPO shares to general and non-resident Bangladeshi investors at 10 percent discount of cut-off price which was set by the bidding of the institutional investors.
As per the bidding of EIIs, the cut-off price of the company’s shares stands at Tk 45 which will be allotted to general investors along with NRB investors at Tk 40 each. Under the amended public issue rules, of the 3.49 crore IPO shares of EKCL 2.08 crore will be allocated to EIIs, 1.41 crore shares will be offered to the General and NRB investors.
Company Information, IPO Application Form, Prospectus & Result is given below:

Esquire Knit Composite Ltd.

COMPANY INFORMATION:

Company Name: Esquire Knit Composite Limited (EKCL)
Incorporation: The company was incorporated in 16 February 2000 as a private limited Company and was subsequently converted into a public limited company on 28 June 2015.
Commercial Operation: EKCL was started commercial operation 2001
Authorized Capital: Tk. 2,000,000,000 divided into 200,000,000 ordinary shares of Tk. 10.00 each
Paid Up Capital (Before IPO): Tk. 1,000,000,000 divided into 100,000,000 ordinary shares of Tk. 10.00 each
Paid Up Capital (After IPO): Tk. 1,348,958,330 divided into 134,895,833 ordinary shares of Tk. 10.00 each

Management Body: 1) Mr. Md. Mofazzal Hossain, Chairman
2) Mr. Md. Ehsanul Habib, Managing Director
3) Mr. Md. Arifur Rahman, Director
4) Mr. Md. Muddasar Hossain, Director
5) Mrs. Peara Begum, Director
6) Mr. Swapan Kumar Sarker, Independent Director
7) Mr. Placid Gomes, FCA, Independent Director

ABOUT THE COMPANY:

Esquire Knit Composite Limited is 100% export oriented Company. It produces different types of Knit Garments through its six units namely: Knitting unit, Fabric dyeing unit, Printing, Embroidery, Industrial
laundry and Garments unit and sells the same to foreign buyers including C & A buying KG, Best Seller, Esprit, Mascot, Celio, Next, TeeJays, LIDL.

NAME OF SUBSIDIARIES:

Esquire Knit Composite Limited (EKCL) is a strategic business unit of Esquire Group.
Esquire Knit Composite Ltd.

ADDRESS:

Registered Office:
Esquire Tower, 21 Shaheed Tajuddin Ahmed Sarani, Tejgaon I/A, Dhaka-1208, Bangladesh.
Phone: +096-02-333881-8
Fax: +88-02-9139390
Email – [email protected]
Corporate Head Office:
Ideal Trade Centre, 102, Shaheed Tajuddin Ahmed Sarani, Tejgaon I/A, Dhaka-1208. Bangladesh.
Email: [email protected]

Web Address: www.esquireknit.com

MAJOR FINANCIAL INFORMATION AS FOLLOWS:

Figure in Tk.

Particulars30-06-17

31-12-16
(6 Months)

30 06-16
(6 Months)

31-12-15

31-12-14
No of Share100,000,000100,000,00060,000,00060,000,0009,979,200
Face Value1010101010
EPS (Diluted)3.121.551.532.502.59
EPS (Basic)3.121.551.532.502.59
NAV per Shares with revaluation reserve45.8344.2671.1868.63395.81
NAV per share without revaluation reserve25.9624.4038.0735.51166.44

ESQUIRE KNIT COMPOSITE LTD. EPS & NAV:

As per the financial statement for the year ended on June 30, 2017, the company’s net asset value (NAV) stood at Tk 45.83 per share (with revaluation) and Tk. 45.83 per share (without revaluation), whereas the weighted average of EPS was Tk 2.52.

Esquire Knit Composite Ltd.

ISSUE MANAGER:

Prime Finance Capital Management Ltd. working as the manager to the issue.

WHY PUBLIC OFFERING:

Bangladesh Securities Exchange Commission (BSEC) approved IPO of above Co. on 27 September 2018. The companies will raise a fund worth Tk. 562.50 million for the purpose of capital machinery purchase, building construction along with bearing the IPO cost.

NOS. OF SHARE OFFER For EI: 20,833,332
NOS. OF SHARE OFFER For INDIVIDUAL INVESTORS: 14,062,501
Total VALUE OF IPO: Tk. 1,499,999,980/=
INDIVIDUAL INVESTORS IPO VALUE: Tk. 562,500,040/=
FACE VALUE: Tk. 10/=
PREMIUM VALUE: Tk. 40/=
MARKET LOT: 100
TOTAL PRICE:
TK. 4,000.-
SHARE ALLOTMENT: Individual Investors =140,625 lot.
20% of the securities for general public shall be reserved for Affected Investors.

** The Company will collect IPO money through BSEC new rules and the new rule is “BROKER HOUSE SHOULD COLLECT IPO MONEY ONLY”.

SUBSCRIPTION DATE:

The Company’s Subscription date and final prospectus coming soon.

DOWNLOAD IPO FORM HERE:

Res./EI./NRB Application Form

Esquire Knit Composite Ltd.: Draft PROSPECTUS

DOWNLOAD ESQUIRE KNIT COMPOSITE LOTTERY RESULT HERE: Yet to be published

Stock Broker / Merchant Bank Code

General Public

Affected Investors

Non-Residence Bangladeshi (NRB)

Eligible Investors

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