Premier Cement's IPO delayed by a month

Premier Cement Mills' initial public offering (IPO) subscription has been delayed by a month due to the continued lacklustre performance of the secondary market.
The new date for IPO subscription would now be from December 17 to 23, instead of November 18 to 22.
The revised date was approved at a meeting of the Securities and Exchange Commission (SEC) yesterday, following request from the cement manufacturer.
Since the resumption of trading after a six-day Eid and Puja break on October 30, the price indices dropped by around 300 points.
Earlier on September 12, the stockmarket regulator approved the Premier Cement IPO to raise Tk 26.40 crore from public sources.
Using the fixed price method, the company will issue 1.20 crore ordinary shares of Tk 10 each at an offer price of Tk 22, including Tk 12 as premium.
At yesterday's meeting, the SEC gave consent, as instructed by the court, to International Islamic Relief Organisation, a sponsor of Social Islami Bank, to sell 1.03 crore shares of the bank in the block market.
The SEC also gave permission to Essential Drugs Company to raise its paid-up capital from Tk 41.70 crore to Tk 100.92 crore.
The state-owned company will increase the capital by Tk 59.22 crore by issuing 5.92 crore ordinary shares at Tk 10 each.
The new shares will be issued in favour of the health and family welfare ministry.