Home / Knowledge / News / Textiles / Textile sector to flood stock market with IPOs
Textile sector to flood stock market with IPOs
25
Feb '10
Stock markets have extended support to the Initial Public Offerings (IPOs) to be floated by several textile and garment companies intending to expand their businesses and thereby securing a larger share in the international apparel market.

Chief officials of the companies opined that those public issues are being floated for expansion of business and raising working capital.

Amongst others, Envoy Textile, a unit of Envoy Group, is also to step in the stock market, as the Securities and Exchange Commission has already given its consent to the company's move to raise capital.

Abdus Salam Murshedy, Managing Director of the group, informed that they will be coming out with an IPO worth Tk 400 million on Dhaka and Chittagong stock exchanges with each share having face value of Tk 10 and also informed that, a fraction of shares under private placement has already been sold out by the company.

Meanwhile, a unit of Purbani Group, a leading fabric manufacturer, is also preparing to off-load shares to the tune of around Tk 300 million and is expected to hit the market by end of the year. Abdul Hai Sarker, Chairman of the group informed that they are in the process of readying for listing on the exchange.

SQ Celsius, a unit of SQ Group, an apparel giant, too few days back declared that they will be offloading shares of about Tk 1.5 billion by end of the year.

Ghulam Faruque, Chairman and Managing Director of the group, said that as soon as the pre-IPO or private placement formalities are sorted out, probably by June, the shares will be traded formally by September.

SQ's chief also stated that company's asset valuation and credit rating process is being carried out by an asset management firm which will conclude shortly.

At present, paid up capital SQ Celsius is about TK 500 million and it employs 7000 workers, while the worker's strength of the entire group sums up to 10,000 workers. At present, 26 companies representing the textile and apparel sector are listed on the Dhaka Stock Exchange.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 20th Feb 2017

UK textile & apparel exports up 7.05% in 2016: UKFT

The exports of apparel and textiles from the UK have increased by...

Textiles | On 20th Feb 2017

Himatsingka Seide incorporates subsidiary in Europe

Himatsingka Seide Ltd, one of the largest producers of home textiles...

Courtesy: Green Initiatives

Apparel/Garments | On 20th Feb 2017

Green Initiatives launches Re:Form to end textile waste

Green Initiatives, a non-government institution, has launched...

Interviews View All

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search