The regulator also approved Tk35 crore debenture with a six-year tenure of Wata Chemical The capital markets regulator, Bangladesh Securities and Exchange Commission (BSEC), yesterday gave clearance to Evince Textiles Limited to raise almost Tk17 crore through initial public offering. The regulator in a statement said the company will issue over 17m ordinary shares. The offer value of each share is Tk10. The proceeds of the issue will be utilised for purchasing machinery, factory construction, strengthening capital base and meeting IPO expenses. Its Earning Per Share is Tk1.62 and Net Asset Value Tk17.62, according to its audited report as of 2015. The regulator also approved Tk35 crore debenture with a six-year tenure of Wata Chemical. The characteristics of the debenture is full redemption and will have a one-year grace period. Each unit price of the debenture is Tk10. Meanwhile, BSEC has fined each director and managing director except those independent and nominated ones of Matin Spinning Mills Limited Tk2 lakh as the regulator’s investigation found that the company deposited IPO fund as FDR in the bank and took loan against it, which is the violation of securities rules.
