Far East Knitting & Dyeing Industries Limited: IPO Result

The Bangladesh Securities Exchange Commission (BSEC) approved IPO “Far East Knitting & Dyeing Industries Limited on Tuesday 25th March 2014 on their 513 nos Board Meeting presided by BSEC Chairman Prof. M Khairul Hossain. In this meeting, they have also approved the proposals of issuing Tk. 3.0 billion Coupon-Bearing Subordinated Bond by Mercantile Bank and draft prospectus and investment management deal with an open-end mutual fund.

Company Information, IPO Application Form, Prospectus, and Result are as Under:

COMPANY NAME: Far East Knitting & Dyeing Industries Ltd. or called FEKDIL is 100% export oriented garment manufacturing company inception in 1994. It’s a composite knit garment facility where it has knitting, dyeing, stitching and printing capabilities. FEKDIL procures raw yarn from local and foreign sources.

PROCESS: First the raw yarn is knitted into gray fabric. Gray fabric is dyed as per buyer requirements, the then dyed fabric is finished cut and printed on if required and finally the fabric is stitched to produce readymade knitwear.
KNITTING: FEKDIL has an average daily knitting capacity of 6 ton with a total of 30 knitting machines.
DYEING: The Company has daily dyeing capacity of 10 Tons with a total 22 dyeing machines.
GARMANTING: Currently 39 lines are active at FEKDIL with a total of 1400 sewing machines. Daily sewing capacity average 50,000-60,000 pcs/day for basic items and approx 45,000 pcs/day for more sophisticated garments.
PRINTING: Including 3 sets of European machinery that are capable of producing 18 colors, 11 colors and 8 colors respectively. 3 lines of screen printing. Printing machine output is approx 20,000 pcs/day and Table printing capacity is approx 5000-10000 pcs/day.
PRODUCT: FEKDIL supplies the finished goods most renowned apparel brands in the world. Its major products are Ladies and gents Knitwear i.e. T-Shirt, Tank Top & vest, Jacket, Pajama, Jogger, and Hoodies.
MAIN BUYER: FEKDIL  strives to keep the buyers satisfies with the quality of the product. The buyer conducts a regular audit in the factory in order to evaluate the operation, production process, and other relevant policies. FEKDIL main buyer is Bershka, Walmart, RIMAR, BENHA, Dickies and look.

FEKDIL has to ensure strict compliance with the buyer’s requirement regarding the environment, health and safety of the workers.

ADDRESS: Moyeen Centre, House#9/B, Road#3, Gulshan-1, Dhaka-1212, Bangladesh.
Email ADDRESS: info@fareastknit.com
WEB ADDRESS: www.fareastknit.com

COMPANY EPS & NAV PER SHARE:  As per financial statement for the year ended on 30 June 2013 and audited financial statement of previous five years the Company’s weighted average Earning Per Shares (EPS) Tk. 3.28 and re-valued Net Assets Value (NAV) Tk. 19.08 respectively.

ISSUE MANAGER: IDLC Investment Ltd working as the manager of the issue.

WHY PUBLIC OFFERING: Bangladesh Securities Exchange Commission (BSEC) approved IPO of above Co. on 25th March 2014. The Company will raise a fund worth Tk. 675 million for the purpose of BMRE (Balancing, Modernization, Rehabilitation, and Expansion), repayment of Bank’s Term Loan and IPO Expenses meet from IPO Proceeds.

NOS. OF SHARE OFFER: 25,000,000
(General-75,000 Lot, Affected- 25,000 Lot, NRB-12,500 Lot and Mutual Fund-12,500 Lot

VALUE OF IPO: Tk. 675,000,000.-
FACE VALUE: Tk. 10.-

SUBSCRIPTION DATE: The Company’s subscription date will start from 15 June 2014 to 19 June 2014 and NRB till 28 June 2014.


Resident Bangladesh (RB) Form

Affected Form

NRB Form

Bank List



Bank/Branch Code

General Public

Non Residence Bangladeshi

Affected Small Investors

Mutual Fund

Distribution of Refund Warrant


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