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Malek Spinning mill to raise IPO funds

05
Apr '10
Initial Public Offerings (IPO) of Malek Spinning Mills Ltd. has been approved by the Securities and Exchange Commission (SEC).

Aiming to raise Tk 1 billion from the stock market, the textile company is offering 40 million shares to public. The company has decided to set offer value of its share at Tk 25 including premium of Tk 15.

Based at Narayanganj, this eleven-year old company will be the 18th listed textile company on both, Dhaka Stock Exchange and Chittagong Stock Exchange.

Salek Textile Limited, Knit Asia Limited and Rahim Textile Mills Ltd. are the subsidiaries of this company and are also listed companies.

Malek Spinning will utilise this fund to expand the company and institute chemical chip and fibre plants.

Fibre2fashion News Desk - India


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