IPOs of Olympic Accessories, Keya Cosmetics get regulator's nod

Bangladesh Securities and Exchange Commission yesterday gave a green light to Olympic Accessories to raise Tk 20 crore from the public.

The company is set to float two crore ordinary shares of Tk 10 each to raise the fund, the stockmarket regulator said in a statement.

Olympic Accessories will use the fund from the initial public offering for the construction of a new factory building and purchasing machinery.

The company's earnings per share as of June last year stood at Tk 1.43 with a net asset value per share of Tk 16.34.

PLFS Investments and CAPM Advisory are the issue managers of the IPO.

Olympic Accessories is engaged in manufacturing, processing, printing, cutting, sealing and assembling of all kinds of carton, poly beg, hanger, elastic, draw cord, back board, neck board, ribbon, gum tape, label, twill tape, interlining, bar code and hangtag.

In another development, the BSEC gave permission to Keya Cosmetics to raise Tk 321.95 crore through issuing 32.19 crore shares of Tk 10 each.

The fund will be raised in line with an amalgamation of Keya Knit Composite, Keya Cotton Mills and Keya Spinning Mills with the listed Keya Cosmetics.

The High Court has already approved the merger of the companies of Keya Group.