The Securities and Exchange Commission yesterday approved two new and two revised initial public offerings (IPOs).
The approvals came at a meeting of the stockmarket regulator chaired by its Chairman M Khairul Hossain.
Using fixed-price method, Golden Harvest Agro Industries will float three crore ordinary shares of Tk 10 each at an offer price of Tk 25, including a premium of Tk 15, to raise Tk 75 crore from public.
The company's earnings per share (EPS) was Tk 4.72 and net asset value (NAV) per share was Tk 25.53 as of June 2011, according to a statement of the SEC.
Banco Finance and Investment and Royal Green Capital Market are the issue managers of Golden's IPO.
Bengal Windsor Thermoplastic will float 1.60 crore ordinary shares of Tk 10 each at an offer price of Tk 25, including Tk 15 as premium, to raise Tk 40 crore from public.
The company's EPS was Tk 3.62 and NAV per share was Tk 19.45 as of June 2011.
ICB Capital Management is the issue manager of Bengal's IPO.
As per the revised IPO, Summit Purbanchal Power Company will float three crore ordinary shares of Tk 10 each at an offer price of Tk 40, including a premium of Tk 30.
Previously, the Summit Purbanchal IPO was approved at Tk 45. But considering the current market situation, the company reduced the premium by Tk 5 and the commission approved it, according to the statement.
Argon Denims, as per its revised IPO, will float three crore ordinary shares of Tk 10 each at an offer price of Tk 35, including a premium of Tk 25.
Previously, the Argon Denims IPO was approved at Tk 44.
The SEC also gave permission to Envoy Textiles to resume its IPO subscription period, which was postponed in July.
The regulator also finalised a new rule on issuance of debt securities through private placement to bring the fund raising process under regulation.
A gazette will be published soon on the approved rule, Securities and Exchange Commission (Private Placement of Debt Securities) Rules, 2012.
Presently, there is no specific rule or guideline on issuance debt instrument. The SEC has so far been giving permissions to issue debt securities under its capital issue rules.
Debt securities or debt instruments evidence the indebtedness of the issuer to the investors in the form of bond, debt, or any other instrument of indebtedness, whether secured or not.
The SEC also approved Renata to raise Tk 100 crore through issuing a two-year maturity period bond, which will be unsecured, non-convertible and subordinated in nature.
Renata, also a listed firm, will use the fund in business expansion. Face value of each unit of the bond will be Tk 1 crore.