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Queen South Textile Mills Limited IPO Result & Information

Update: Congratulation lottery winner. Your share entered your BO Account and transaction will start stock exchange on 13 March 2018.

DOWNLOAD LOTTERY RESULT HERE: PUBLISHED.

Stock Broker / Merchant Bank Code

General Public

Affected Investors

Non-Residence Bangladeshi (NRB)

UPDATE: Lottery date 1st February’2018 at 10am in Ramna Engineering Institute, Dhaka, information received from issue manager.

UPDATE: The Company’s Subscription will start from 7 January’18 and continue to 15 January’18 (Including NRB)

The Bangladesh Securities Exchange Commission (BSEC) approved IPO Queen South Textile Mills Limited on Tuesday, 14 November 2017 at their 615 nos Board Meeting. Presided by BSEC Chairman Prof. Dr. M Khairul Hossain to issue 1.50 crore ordinary shares worth Tk 10 each. Company Information, IPO Application Form, Prospectus & Result is given below:

Queen South Textile Mills Ltd.

COMPANY INFORMATION:

Company Name: Queen South Textile Mills Limited (QSTML)
Incorporation: The company was incorporated on 15 June 2003 as a private limited Company and was subsequently converted into a public limited company on 25th January 2016.
Commercial Operation: QSTML was started commercial operation on 1st June 2005.
Authorized Capital: Tk. 2,000,000,000 divided into 200,000,000 ordinary shares of Tk. 10.00 each
Paid Up Capital: Tk. 851,500,000 divided into 85,150,000 ordinary shares of Tk. 10.00 each

Management Body:  1) Wong Jammy Kwok Chan, Managing Director & Director
2) Wong Kwok Chuen (Nominee of Gain Plus Agents Limited), Chairman & Director
3) Wong Elisa Dai Wah, Director
4) Lee Hung Chun, Director
5) Maqbul Ahmed, FCA, Independent Director

Queen South Textile Mills Limited IPO Result & Information

NATURE OF BUSINESS:

Queen South Textile Mills Limited (QSTML) is a 100% export oriented yarn dyeing Industry located in
Dhaka Export Processing Zone, Savar, capital of Bangladesh. The company is engaged in the dyeing of different counts of Cotton, Polyester, Viscose, Acrylic, Nylon and Blended yarn to market the processed yarn as a deemed exporter. QSTML has obtained the “ Oeko-Tex Standard 100 ” certificate for Yarn, and Dyes, as well as Sewing and Embroidery  Threads of QSTML. QSTML is also the only dyeing factory to obtain the “ W.S.T.” environmental certificates. Not only the dyeing of yarn quality remains one of the highest satisfaction in the market, QSTML is also capable of providing huge production with very short lead time to meet customers’ delivery deadlines. QSTML’s production machinery are equipped with the State of the art technology, including Central Controlling and Monitoring System, Laboratory is equipped with computer matching machine and dispensing machines, monitored by qualified expert technicians.

Queen South Textile Mills Ltd.

PRODUCTS

Queen South Textile Mills Ltd. import tons of yarn monthly from reputed spinning mills in Pakistan, India, and China. Equipped with numbers of different latest dyeing machinery which could be produced latest dyeing machinery which could be produced from 2 Lbs to 5,000 Lbs.

ADDRESS:

Dhaka Sales Office:
House # 235
G/F Road # 3
Baridhara D.O.H.S, Dhaka, Bangladesh
Phone: +88-02-8817216, 8855318

Corporate/Registered Office & Factory:
Plot No: 85-88 (Extension Area)
Dhaka Export Processing Zone
Savar, Dhaka, Bangladesh
Phone: +88-2-7790219-21
Fax: +88-2-7790216
Email: info@qstmills.com
Web Address: www.qstmills.com

MAJOR FINANCIAL INFORMATION AS FOLLOWS:

Figure in Tk.’000

Particulars 01-07-16 to 30-06-16 (6 Months) 01-12-15 to 30-06-16 (7 Months)

30-11-15

(Restated)

30-11-14 30-11-13 30-11-12 30-11-11
Revenue 1,670,293 1,870,087 3,215,972 3,720,883 3,376,673

3,021,074

2,434,580
Gross Profit 165,038 185,105 295,273 350,646 315,306 278,548 213,828
Net Profit before tax 74,383 95,174 129,740 210,907 169,743 59,471 85,727
Net Profit after tax 62,450 80,883 118,428 210,907 169,743 59,471 85,727
Total Assets 2,839,947 2,866,136 2,823,644 2,707,021 2,237,462 1,928,895 1,681,220
Share Capital 851,500 143,750 143,750 143,750 143,750 143,750 143,750
Retained Earnings 528,109 1,023,408 943,196 860,523 649,616 479,872 420,400
No. of Shares 85,150 14,375 14,375 143 143 143 143
Face Value 10 10 10 1,000 1,000 1,000 1,000
NAV per Shares 16.20 81.19 75.61 69.86 55.19 43.38 39.25
Earnings per Share (Basic) 0.85 1.15 1.69 3.01 2.42 0.85 1.22

QUEEN SOUTH TEXTILE MILLS LTD. EPS & NAV:

As per company’s year ended financial statement on 31 December 2016, Queen South Textile Mills Ltd. stands Net Assets Value per shares (NAV) Tk. 16.20 and Weighted Average Earning Per Shares (EPS) at Tk. 1.42.

ISSUE MANAGER:

Alpha Capital Management Ltd. is working as the manager to the issue.

WHY PUBLIC OFFERING:

Bangladesh Securities Exchange Commission (BSEC) approved IPO of above Co. on 14 November 2017. The companies will raise a fund worth Tk. 150.00 million for the purpose of procurement and installation of automatic warehouse storage machine, acquisition and installation of machinery for modernization of existing factory unit, partial repayment of long-term bank loan of the company and to meet up the IPO expenses.

NOS. OF SHARE OFFER: 1,50,00,000
VALUE OF IPO: Tk. 15,00,00,000/=
FACE VALUE: Tk. 10/=
PREMIUM VALUE: Nil
MARKET LOT: 500
MINIMUM LOT VALUE:
Tk.5000/=
SHARE ALLOTMENT: 40% for General Public and Affected Investors=12,000 lot, 40% for Eligible Investor (EI) =12,000 lot, 10% for NRB = 3,000 lot and 10% for Mutual Fund = 3,000 lot.

** The Company will collect IPO money through BSEC new rules and the new rule is “BROKER HOUSE SHOULD COLLECT IPO MONEY ONLY”.

SUBSCRIPTION DATE:

The Company’s Subscription will start from 7 January’18 and continue to 15 January’18.

DOWNLOAD IPO FORM HERE:

Res./EI./NRB Application Form

Queen South Textile Mills LTD.: PROSPECTUS

Consolidated List: Dhaka Stock Exchange
          Chittagong Stock Exchange

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