Esquire Knit Composite has made its debut trading today (Tuesday) on both the bourses under 'N' category.
Esquire Knit Composite is the 54th listed company in textile sector which accounts for around 5.0 per cent of total market cap on the premier bourse, according to a disclosure of the Dhaka Stock Exchange (DSE).
Under the book building method, the company raised Tk 1.50 billion issuing 34.89 million ordinary shares.
The company completed its IPO (Initial Public Offering) subscription during January 06 to January 20, 2019.
Of the total shares, 60 per cent or 20.83 million shares (worth Tk 937 million) were reserved for eligible investors at a cut-off price. The remaining shares are offered for public subscription with 10 per cent discount.
The cut-off price of Esquire Knit share was fixed at Tk 45 each for 20.83 million shares on July 14 last year by the institutional investors through electronic bidding.
The remaining 40 per cent or 14.06 million shares issued to the general investors, including affected small investors and non-resident Bangladeshis, at the cut off price of Tk 40 each.
On January 23 last year, the securities regulator -- Bangladesh Securities and Exchange Commission (BSEC) -- allowed the Esquire Knit to conduct bidding for its shares to set the cut-off price of its shares.
The bidding took place from July 9 to 12, 2018. The export-oriented knit garments company held a road show in April 2017.
Prime Finance Capital Management is the issue manager of the Esquire Knit IPO.
The company's pre-IPO paid-up capital is Tk 1.0 billion and authorised capital is Tk 2.0 billion.
