Emerald Oil gets nod to list on DSE

The Dhaka Stock Exchange has approved the listing of Emerald Oil Industries that raised Tk 20 crore from public through initial public offering.
The approval came at a board meeting of the premier bourse on Monday, DSE officials said.
“The debut date of share trading of Emerald Oil will be announced later after completion of some listing requirements by the edible oil producing company,” said Swapan Kumar Bala, managing director of the DSE.
Emerald Oil is the 19th company to list in the food and allied sector that accounts for about 8 percent of total market capitalisation on the Dhaka bourse.
Earlier on November 19 last year, the Bangladesh Securities and Exchange Commission green-lit Emerald to raise Tk 20 crore through IPO.
The company has already issued two crore ordinary shares of Tk 10 each to raise the funds, which will be used for paying off loans and meeting up working capital.
Earnings-per share of Emerald Oil as of June 2013 stood at Tk 14.06 and net asset value per share stood at Tk 2.85, according to the company's financial statement.