BSEC postpones Simtex Industries IPO subscription
The securities regulator, Bangladesh Securities Exchange Commision (BSEC), yesterday postponed the initial public offering (IPO) subscription of Simtex Industries, a sister concern of Simtex Group Bangladesh, which was scheduled to begin from today to raise Tk 600 million from the public, according to Dhaka Stock Exchange website.
The BSEC made the decision yesterday and sent circular to DSE And CSE.
Earlier, BSEC approved the IPO proposal of the company on June 9, this year.
Simtex Industries was supposed to offload 30 million ordinary shares at an offer price of Tk 20, including a premium of Tk 10 for each ten taka share.
According to the financial statements of Simtex Industries Ltd ended on June 30, 2014, the earning per share (EPS) was Tk 3.33 each and NAV-net asset value (NAV) was Tk 19.60.
According to companys website, Simtex Industries Limited was registered as a private company under Companies Act, 1994 and later it was converted into a public limited company.
