The Bangladesh Securities Exchange Commission (BSEC) approved IPO “Far East Knitting & Dyeing Industries Ltd.“ on Tuesday 25th March 2014 on their 513 nos Board Meeting presided by BSEC Chairman Prof. M Khairul Hossain. In this meeting they have also approved the proposals of issuing Tk. 3.0 billion Coupon-Bearing Subordinated Bond by Mercantile Bank and draft prospectus and investment management deal of an open-end mutual fund .
Company Information, IPO Application Form, Prospectus and Result are as Under:
COMPANY NAME: Far East Knitting & Dyeing Industries Ltd. or called FEKDIL is 100% export oriented garment manufacturing company inception in 1994. Its a composite knit garment facility where it has knitting, dyeing, stitching and printing capabilities. FEKDIL procures raw yarn from local and foreign sources.
PROCESS: First the raw yarn is knitted into gray fabric. Gray fabric is dyed as per buyer requirements, then dyed fabric is ginished cut and printed on if required and finaly the fabric is stitched to produce readymade knitwer.
KNITTING: FEKDIL has an averge daily knitting capacity of 6 ton with a total of 30 knitting machines.
DYEING:The Company has daily dyeing capacityof 10 Tons with a total 22 dyeing machines.
GARMANTING: Currently 39 lines are active at FEKDIL with a total of 1400 sewing machines. Daily sewing capacity average 50,000-60,000 pcs/day for basic items and approx 45,000 pcs/day for more sophisticated garments.
PRINTING: Including 3 sets of European machinery that are capable of producing 18 colors, 11 colors and 8 colours respectively. 3 lines of screen printing. Printing machine outpur is approx 20,000 pcs/day and Table printing capacity is approx 5000-10000 pcs/day.
PRODUCT: FEKDIL supplies the finished goods most renowed apparel brands in the world. Its major products are Ladies and gents Knitwear i.e. T-Shirt, Tank Top & vest , Jacket, Pajama, Jogger and Hoodis.
MAIN BUYER: FEKDIL strives to keep the buyers satisfies with the quality of the product. The buyer conduct regular audit in the factory in order to evaluate the operation, production process and other relevant policies. FEKDIL main buyer are Bershka, Walmart, RIMAR, BENHA, Dickies and look.
FEKDIL has to ensure strict compliance to the buyer’s requirement regarding environment, health and safety of the workers.
COMPANY EPS & NAV PER SHARE: As per financial statement for the year ended on 30 June 2013 and audited financial statement of previous five years the Company’s wighted average Earning Per Shares (EPS) Tk. 3.28 and re-valued Net Assets Value (NAV) Tk. 19.08 respectively.
ISSUE MANAGER: IDLC Investment Ltd working as the manager of the issue.
WHY PUBLIC OFFERING: Bangladesh Securities Exchange Commission (BSEC) approved IPO of above Co. on 25th March 2014 . The Company’s will raise a fund worth Tk. 675 million for the purpose of BMRE (Balancing, Modernization, Rehabilitation and Expansion), repayment of Bank’s Term Loan and IPO Expenses meet from IPO Proceeds.
NOS. OF SHARE OFFER: 25,000,000
(General-75,000 Lot, Affected- 25,000 Lot, NRB-12,500 Lot and Mutual Fund-12,500 Lot
VALUE OF IPO: Tk. 675,000,000.-
FACE VALUE: Tk. 10.-
PREMIUM VALUE: Tk.17.-
SHARE LOT: 200
SUBSCRIPTION DATE: The Company’s subscription date will be start from 15 June,2014 to 19 June, 2014 and NRB till 28 June,2014.
IPO FORM DOWNLOAD HEAR:
FAR EAST KNITTING & DYEING INDUSTRIES LTD. “PROSPECTUS”
LOTTERY RESULT DOWNLOAD HEAR:
Distribution of Refund Warrant
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