VFS Thread Dyeing Limited: Company Information & IPO Result

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Eligible Investors

Update: VFS Thread Dyeing Limited lottery held on 19 July 2018 at 10.30 am at Engineering Institute, IIEB Auditorium, Ramna, Dhaka

The Bangladesh Securities Exchange Commission (BSEC) approved IPO VFS Thread Dyeing Limited on Tuesday, 3 April 2018 at their 638 nos Board Meeting. Presided by BSEC Chairman Prof. Dr. M Khairul Hossain to issue 2.20 crore ordinary shares worth Tk 10 each. Company Information, IPO Application Form, Prospectus & Result is given below:

COMPANY INFORMATION:

Company Name: VFS Thread Dyeing Limited
Incorporation: The company was incorporated on 20 April 2010 as a private limited Company and was subsequently converted into a public limited company on 13 January 2013.
Commercial Operation: VFS Thread Dyeing Limited. was started commercial operation on 2 July 2012.
Authorized Capital: Tk. 1,000,000,000 divided into 100,000,000 ordinary shares of Tk. 10.00 each
Paid Up Capital (Before IPO): Tk. 627,148,000 divided into 62,714,800 ordinary shares of Tk. 10.00 each
Paid Up Capital (After IPO): Tk. 220,000,000 divided into 22,000,000 ordinary shares of Tk. 10.00 each
Management Body: 1) Mr. Sarwat Khaled, Sponsor & Chairman
2) Mr. M. Azhar Rahman, Sponsor & Managing Director
3) Mr. Mo Lai Mei, Sponsor
4) Ms. Rumana Hashem, Director
5) Mr. Tariqul Islam, Director
6) Ms. Khaleda Siddique, Independent Director

ABOUT THE ISSUER:

VFS Thread Dyeing Limited is a leading manufacturer & supplier of high quality Sewing Thread products to apparel industries in Bangladesh. The principal activities of the company include dyeing and finishing of different types of sewing thread. The company has earned fames and laurels in respect of proper management and volume export and established itself as an innovative leader of 100% export oriented sewing thread of Spun Polyester, Core Spun and Synthetic Filament of all grades with continuous advancement in customer service, competitive pricing, quality product, technical support and research & developments.

PRODUCTS:

The Company has following products: 1. Spun Polyester Sewing Thread, 2. Poly Core Spun and 3. Synthetic Filament Yarn etc.

NAME OF SUBSIDIARIES:

There is no subsidiaries company of VFSTDL.

ADDRESS:

Corporate Office :
House #257 (3rd Floor), Road#3, Baridhara DOHS, Dhaka.
Phone: +88 02 8419542, 8419549
Fax: +88 02 8414678
Email: [email protected]

Web Address: www.vfsthread.com

MAJOR FINANCIAL INFORMATION AS FOLLOWS:

Figure in Tk.’000

Particulars	30-06-17	30-06-16	31-12-15	31-12-14	31-12-13
Revenue	880,833	398,856	781,913	765,422	635,249
Gross Profit	199,655	99,655	184,548	185,847	158,126
Net Profit before tax	166,087	82,364	157,451	163,113	130,532
Net Profit after tax	141,082	70,318	144,963	138,402	110,694
Total Assets	1,439,738	1,315,410	1,258,106	1,010,783	900,762
Share Capital	627,148	627,148	627,148	627,148	627,148
Retained Earnings	620,639	480,511	412,888	261,042	122,639
No. of Shares	62,715	62,715	62,715	62,715	62,715
Face Value	10.00	10.00	10.00	10.00	10.00
NAV per Shares	19.90	17.66	16.58	14.16	11.96
Earnings per Share	2.25	1.12	2.31	2.21	1.77

VFS THREAD DYEING 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 19.90 per share and weighted average of EPS was Tk 2.02.

ISSUE MANAGER:

Citizen Securities & Investment Ltd. and First Security Islami Capital & Investment Ltd. are jointly working as the manager to the issue.

WHY PUBLIC OFFERING:

Bangladesh Securities Exchange Commission (BSEC) approved IPO of above Co. on 3 April 2018. The companies will raise a fund worth Tk. 220.00 million. Proceeds from Initial Public Offering (IPO) will be used for the acquisition of Machinery & Equipment, Bank loan repayment and for IPO Expenses.

NOS. OF SHARE OFFER: 2,20,00,000
VALUE OF IPO: Tk. 220,000,000/=
FACE VALUE: Tk. 10/=
PREMIUM VALUE: Nil
MARKET LOT: 500
MINIMUM LOT VALUE: Tk.5000/=
SHARE ALLOTMENT: 32% for General Public=14,080 lot and 8% for Affected Investors=3,520 lot, 40% for Eligible Investor (EI) =17,600 lot, 10% for NRB = 4,400 lot and 10% for Mutual Fund =4,400 lot.

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