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:
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
NAME OF SUBSIDIARIES:
Esquire Tower, 21 Shaheed Tajuddin Ahmed Sarani, Tejgaon I/A, Dhaka-1208, Bangladesh.
Email – [email protected]
Corporate Head Office:
Ideal Trade Centre, 102, Shaheed Tajuddin Ahmed Sarani, Tejgaon I/A, Dhaka-1208. Bangladesh.
Email: [email protected]
MAJOR FINANCIAL INFORMATION AS FOLLOWS:
Figure in Tk.
|No of Share||100,000,000||100,000,000||60,000,000||60,000,000||9,979,200|
|NAV per Shares with revaluation reserve||45.83||44.26||71.18||68.63||395.81|
|NAV per share without revaluation reserve||25.96||24.40||38.07||35.51||166.44|
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.
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”.
The Company’s Subscription date and final prospectus coming soon.
DOWNLOAD IPO FORM HERE:
Esquire Knit Composite Ltd.: Draft PROSPECTUS
DOWNLOAD ESQUIRE KNIT COMPOSITE LOTTERY RESULT HERE: Yet to be published
Stock Broker / Merchant Bank Code
Non-Residence Bangladeshi (NRB)
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