DHAKA, JULY 5: The Securities and Exchange Commission (SEC) has approved initial public offering of Rangpur Dairy and Food Products Limited commonly known as RD Milk. After recast of the SEC in mid-May this year, the securities regulator gave IPO approval to a company under fixed price method. The approval came in a commission meeting on Tuesday with SEC chairman Khairul Hossain in the chair.
But the SEC has rejected the IPO of Central Depository Participant (CDB), the firm that undertakes the settlement of electronic share trades saying the conflict of interest might be prevailed as it is the company of infrastructure sector in the stock market.
It proposed to raise Tk 400 million through IPO to finance the upgrade of its system to handle the extraordinary upsurge in trade volumes on the stock markets.
The Rangpur Dairy will raise Tk 163 million from the market to set up cold storage project and develop other infrastructure facilities to increase its production capacity.
Its offer price is Tk 18, including premium Tk 8 and its market lot is 200.
It has started commercial operation on 14th April, 2007 by establishing its factory at Salaipur, Baldipur, Rangpur. The company was established under the EEF assistance of Bangladesh Bank and project loan from NCC bank. Presently authorized capital of the Company is BDT 1,000 Million and paid up capital stands at BDT 236.586 Million, according to its website.
The Company introduced UHT technology with Aseptic Pouch Packaging for the first time in Bangladesh in manufacturing and marketing of fresh milk, flavored milk and other by-products. In 2008 it introduced candy production under the same brand name. Its annual milk processing capacity is 21.90 million liters under two shifts of operation. The brand names of the products are “RD”Milk.
http://www.theindependentbd.com/business/stockmarket/59148-sec-approves-ipo-of-rangpur-dairy.html
But the SEC has rejected the IPO of Central Depository Participant (CDB), the firm that undertakes the settlement of electronic share trades saying the conflict of interest might be prevailed as it is the company of infrastructure sector in the stock market.
It proposed to raise Tk 400 million through IPO to finance the upgrade of its system to handle the extraordinary upsurge in trade volumes on the stock markets.
The Rangpur Dairy will raise Tk 163 million from the market to set up cold storage project and develop other infrastructure facilities to increase its production capacity.
Its offer price is Tk 18, including premium Tk 8 and its market lot is 200.
It has started commercial operation on 14th April, 2007 by establishing its factory at Salaipur, Baldipur, Rangpur. The company was established under the EEF assistance of Bangladesh Bank and project loan from NCC bank. Presently authorized capital of the Company is BDT 1,000 Million and paid up capital stands at BDT 236.586 Million, according to its website.
The Company introduced UHT technology with Aseptic Pouch Packaging for the first time in Bangladesh in manufacturing and marketing of fresh milk, flavored milk and other by-products. In 2008 it introduced candy production under the same brand name. Its annual milk processing capacity is 21.90 million liters under two shifts of operation. The brand names of the products are “RD”Milk.
http://www.theindependentbd.com/business/stockmarket/59148-sec-approves-ipo-of-rangpur-dairy.html
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