Tung Hai Knitting IPO Result – tunghaigroup-bd.com. Tung Hai Knitting and Dyeing Ltd Initial Public Offering Subscription was from 30 March to 3rd April for Residence Bangladeshi and 30 March to 12th April 2014 for NRB. Draw of Tung Hai Knitting IPO Result may be held on Thursday, 19th June 2014. Tung Hai Initial Public Offering over subscript 24 times.
Earlier regulator BSEC approved this company’s IPO prospectus on 18th February 2014 to go for public worth Tk 35 crore to float 3.50 crore shares at face value at Tk 10.
The company will use the IPO fund to meet up its current capital requirement, purchasing machinery, repaying term loan and expenses of the IPO.
As per the company’s financial statements ended on December 31, 2012, the earning per share (EPS) was 1.15/- with net asset value (NAV) of 13.73/- per share.
AFC Capital Limited is working as the issue manger of the company, and Imperial Capital is working as the co-issue manager of the issue.
At present, 32 textile companies are listed on the Dhaka Stock Exchange, which is about 5% only of the total market capitalisation.
Primary Status of Tung Hai Knitting IPO:
All concerned are hereby informed that:
Total amount of subscription (excluding NRB)=Tk.8,335,829,975 (application received=16,67,166 nos).
Total amount received from NRB =Tk. 30,659,056 up to 22nd May 2014 (application received=6,132 nos).
So, Total subscription received=Tk. 83,66,489,031 (application received=16,67,166 nos) against Public Issue of IPO of Tk. 317,000,000 (Total Lots=350,000,000 nos) which is over subscribed by 23.81 times.
Hence, Tung Hai IPO Result over subscript 23.81 times then IPO size.
About the Tung Hai Company:
Tung Hai Knitting and Dyeing is a subsidiary of Tung Hai Group, a leading manufacturer and exporter of knitted sweaters and jerseys, according to the group’s website. The group’s annual turnover is over $50 million.
Tung Hai Group is composed of three major divisions: Tung Hai Sweaters Ltd., established in 1997, produces knitted sweaters in a production area of approximately 335,000 sq feet and is home to our head office in the capital city Dhaka; Tung Hai Dyeing Ltd., established in 2005 with the aim of perpetuating our supply of dyed yarn, also supports our yarn winding and knitting operations in a production area of 35,000 sq ft., and is located in Zirani, Shibrampur, Gazipur; while Tung Hai Knit Fashion Ltd., which crossed the threshold of commercial production in 2011 and operates 16 jersey manufacturing lines, was created to extend services to our existing valued customers by supplying them with T-shirts, polo shirts, tank tops, fleece garments and a wide range of other fashionable knit garments for men, women and children. It is located in Baniarchala, Memberbari, Bhabanipur. All three establishments contribute to our garment range which is exported 100% globally!
M/S. Tung Hai Knitting & Dyeing Ltd.
30/2, Darus Salam Road, Inds. Plot # 2C/1-B, Section # 1 Mirpur, Dhaka.
Tel Phone No.: 02-9010398
Fax No.: 02-9006501
Tung Hai Knitting and Dyeing ltd Factory Location:
Shibrampur, BKSP, Joydebpur, Gazipur, Dhaka.
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Distribution of Refund Warrant:
Tung Hai Knitting IPO Result,