11:38 PM
Otobi offers IPOs with excess premium.
Otobi has wanted approval for creating Initial Public Offerings (IPOs) to gather funds from the market with excess premium, alleged market-related sources.
Otobi, the known piece of furniture producing company, created the appeal to stock exchange watchdog – the Securities and Exchange Commission (SEC) seeking its permission for providing primary shares to raise its paid capital.
The initial public offering application nowadays is into consideration of the SEC. Sources same, Otobi placed the initial public offering application on April twenty six last at the dhaka stock exchange (DSE) however the DSE authority sent it to SEC while not scrutinizing.
As per the proposal, the corporate supposed to unharness forty million shares within the market with a planned worth of Tk forty five per share, together with premium of Tk thirty five per share. In total, the corporate can collect Tk one.8 billion from the market, they added.
As per the audit report of the corporate, submitted at the DSE, Earning Per Share (EPS) was shown Tk 2.93. Commenting on this, DSE President Rakibur Rahman said: “A company definitely will add premium to its primary shares, however the economic condition of the company should be seen 1st. On the opposite hand, charging excess premium discourages the investors and whereas lower premium encourages them.”
“The company that wishes to enter the market with premium are often brought below safety net. this can guarantee security of the investors,” he added.
Bangladesh Share Market Investors Oikya Parishad world affairs Secretary ANM Ataullah said, “We area unit continuously against providing shares with excess premium. we tend to learnt that piece of furniture creating company Otobi has applied for initial public offering approval with a premium of Tk thirty five per share, that is below SEC’s thought currently.”
In the current market state of affairs, the investors don't seem to be able to accept Otobi’s IPOs with excess premium. Syhafiullah, a share capitalist said: “The SEC shouldn't approve proposal of any company who needs to form cash with excess premium.”
Source : Daily Sun, 25.08.2012
Otobi has wanted approval for creating Initial Public Offerings (IPOs) to gather funds from the market with excess premium, alleged market-related sources.
Otobi, the known piece of furniture producing company, created the appeal to stock exchange watchdog – the Securities and Exchange Commission (SEC) seeking its permission for providing primary shares to raise its paid capital.
The initial public offering application nowadays is into consideration of the SEC. Sources same, Otobi placed the initial public offering application on April twenty six last at the dhaka stock exchange (DSE) however the DSE authority sent it to SEC while not scrutinizing.
As per the proposal, the corporate supposed to unharness forty million shares within the market with a planned worth of Tk forty five per share, together with premium of Tk thirty five per share. In total, the corporate can collect Tk one.8 billion from the market, they added.
As per the audit report of the corporate, submitted at the DSE, Earning Per Share (EPS) was shown Tk 2.93. Commenting on this, DSE President Rakibur Rahman said: “A company definitely will add premium to its primary shares, however the economic condition of the company should be seen 1st. On the opposite hand, charging excess premium discourages the investors and whereas lower premium encourages them.”
“The company that wishes to enter the market with premium are often brought below safety net. this can guarantee security of the investors,” he added.
Bangladesh Share Market Investors Oikya Parishad world affairs Secretary ANM Ataullah said, “We area unit continuously against providing shares with excess premium. we tend to learnt that piece of furniture creating company Otobi has applied for initial public offering approval with a premium of Tk thirty five per share, that is below SEC’s thought currently.”
In the current market state of affairs, the investors don't seem to be able to accept Otobi’s IPOs with excess premium. Syhafiullah, a share capitalist said: “The SEC shouldn't approve proposal of any company who needs to form cash with excess premium.”
Source : Daily Sun, 25.08.2012
Posted in: Forth Coming IPO
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