FE Report (October 08, 2010)
Textile maker Generation Next Ltd Wednesday held a road-show for institutional investors, as the company plans to go public under the book building method.
BRAC EPL Investment Ltd, the issue manager of Generation Next, valued shares at Tk 50 each: Tk 10 in face vale and Tk 40 in premium.
Generation Next will use the proceeds from the initial public offer to expand business and repay outstanding loans.
The company will offload 30 million ordinary shares. Of the 30 million shares, 60 percent will be allotted for the general public, 20 percent for eligible investors, 10 percent for mutual funds and 10 percent for non-resident Bangladeshis.
Now, the investors will have to offer bidding prices in three workdays, which will ultimately fix an indicative price.
"We will finally submit the indicative price to the market regulator after averaging all biding prices from the eligible investors," said Khaled Farazi, managing director of BRAC EPL.
Tauhidul Islam Chaudhury, chairman of Generation Next, described the strengths of the business, while Javed Chaudhury, chief executive officer of the company, presented the company's fundamentals.
Officials of BRAC EPL Investments Limited, the issue manager of GNFL, said the company demanded Tk 40 premium for each of its shares of Tk 10.
"The indicative price of GNFL's shares will be approved by the stocks regulator after justifying the bidding prices, quoted by the institutional investors," Mr Khaled Yusuf Farazi said at the road-show.
GNFL will offload 30 million ordinary shares, of which, 60 per cent will be allotted for general public, 20 per cent for eligible investors, 10 per cent for mutual funds, and 10 per cent for non-resident Bangladeshis.
"In our stock market the participation of garment sector is very minimal, compared to other sectors. That's why GNFL plans to go public," Javed Chaudhury, chief executive officer of the company, said during his presentation.
"Our compliance standard is very high, and the company will share its profits with the investors," he added.
Textile maker Generation Next Ltd Wednesday held a road-show for institutional investors, as the company plans to go public under the book building method.
BRAC EPL Investment Ltd, the issue manager of Generation Next, valued shares at Tk 50 each: Tk 10 in face vale and Tk 40 in premium.
Generation Next will use the proceeds from the initial public offer to expand business and repay outstanding loans.
The company will offload 30 million ordinary shares. Of the 30 million shares, 60 percent will be allotted for the general public, 20 percent for eligible investors, 10 percent for mutual funds and 10 percent for non-resident Bangladeshis.
Now, the investors will have to offer bidding prices in three workdays, which will ultimately fix an indicative price.
"We will finally submit the indicative price to the market regulator after averaging all biding prices from the eligible investors," said Khaled Farazi, managing director of BRAC EPL.
Tauhidul Islam Chaudhury, chairman of Generation Next, described the strengths of the business, while Javed Chaudhury, chief executive officer of the company, presented the company's fundamentals.
Officials of BRAC EPL Investments Limited, the issue manager of GNFL, said the company demanded Tk 40 premium for each of its shares of Tk 10.
"The indicative price of GNFL's shares will be approved by the stocks regulator after justifying the bidding prices, quoted by the institutional investors," Mr Khaled Yusuf Farazi said at the road-show.
GNFL will offload 30 million ordinary shares, of which, 60 per cent will be allotted for general public, 20 per cent for eligible investors, 10 per cent for mutual funds, and 10 per cent for non-resident Bangladeshis.
"In our stock market the participation of garment sector is very minimal, compared to other sectors. That's why GNFL plans to go public," Javed Chaudhury, chief executive officer of the company, said during his presentation.
"Our compliance standard is very high, and the company will share its profits with the investors," he added.
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