Matin Spinning to go for IPO

Matin Spinning Mills Ltd, a concern of DBL Group, entered into an agreement with IDLC Finance Ltd for raising capital through initial public offering. Abdul Wahed, chairman, MA Jabbar, managing director of DBL Group, and Selim RF Hussain, managing director and CEO, and Arif Khan, deputy managing director of IDLC Finance, were present at the signing ceremony in Dhaka recently. Photo: IDLC

Matin Spinning Mills Ltd has recently signed an agreement with IDLC Finance Ltd for raising capital through initial public offering (IPO) under book building method, said a statement.
IDLC Finance will act as the issue manager of the offering.
Matin Spinning Mills, an export oriented cotton spinning mill from DBL Group, has a production capacity of 25,000 kg per day. It started commercial operation in October 2006.
From DBL Group, Abdul Wahed, chairman, MA Jabbar, managing director, MA Rahim (Feroz), MA Quader Anu, Md Hassan Imam, directors, and from IDLC Finance, Selim RF Hussain, managing director and CEO, and Arif Khan, deputy managing director, were present at the signing ceremony.