Regulator approves ARGON DENIMS LTD IPO. ARGON DENIMS LTD IPO Subscription will be start again. The Securities and Exchange Commission has approved the Initial Public Offering (IPO) to raise Tk 132 crore. Argon Denims Ltd’ will float 3, 00, 00,000 ordinary shares of Tk 10 each at an offer price of Tk 44, including a premium of Tk 34.
The company will use the IPO proceeds for expansion and purchase of new machinery and to meet its working capital requirement.
The company’s earnings per share (EPS) was Tk 5.46 as per the 2011 Financial Statements. LankaBangla Investments Ltd. and Satcom IT Ltd. have been appointed as Issue Manager and Post Issue Manager respectably by Argon Denims Ltd.
As per its revised IPO, ARGON DENIMS LTD IPO Subscription will be start from November 26, 2012. Argon can float 3,0,00,000 ordinary shares of 10/- every at an offer value of 35/, including a premium of 25/-. Market lot=250, Single lot Price=7,000/-, Total lots=1,50,000. Net Asset value (NAV)=15.65/- (without revolution), Earning Per Share (EPS)=5.46/-. To download application form: click here
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