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AFC Agro gets nod for IPO


Bangladesh Securities and Exchange Commission yesterday gave the green light to AFC Agro Biotech to raise Tk 12 crore from public.
The bio-pharmaceutical and biochemical manufacturer plans to float 1.2 crore ordinary shares of Tk 10 each.
Imperial Capital and Sigma Capital Management will manage the initial public offering, the proceeds of which would be used to purchase machinery.

The company’s earnings per share, as of June 2013, stood at Tk 1.01 and net asset value per share at Tk 11.1.
The approval came at a meeting presided over by BSEC Chairman Khairul Hossain, the commission said in a statement.
The stockmarket regulator also gave consent to One Bank to raise Tk 220 crore through issuing “subordinated floating rate bonds??? with seven-year tenure.
Face value of each unit of the bond will be Tk 10 lakh. Other than existing shareholders, only corporate and financial institutions and high net worth individuals can buy the bond.
At yesterday’s ( 8 October 2013) meeting, the BSEC fined Kabir Securities Tk 5 lakh and Hillcity Securities Tk 1 lakh for violating securities rules.


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