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SS Steel Limited: Company Information & IPO Result

The Bangladesh Securities Exchange Commission (BSEC) approved IPO SS Steel Limited on Tuesday, 17 July 2018 at their 651 nos Board Meeting. Presided over by BSEC Chairman Prof. Dr. M Khairul Hossain to issue 2.50 crore ordinary shares worth Tk 10 each. Company Information, IPO Application Form, Prospectus & Result is given below:

COMPANY INFORMATION:

Company Name: SS Steel Limited. (Hereinafter referred to as “STL”)
Incorporation: The Company was incorporated on 22 December 2001 as a private limited Company and was subsequently converted into a public limited company on 15 December 2016.
Commercial Operation: SS Steel Limited was started commercial operation on 22 December 2001.
Authorized Capital: Tk. 2,500,000,000 divided into 250,000,000 ordinary shares of Tk. 10.00 each
Paid Up Capital (Before IPO): Tk. 2,200,000,000 divided into 220,000,000 ordinary shares of Tk. 10.00 each
Paid Up Capital (After IPO): Tk. 2,450,000,000 divided into 245,000,000 ordinary shares of Tk. 10.00 each

Management Body: 1) Mr. Javed Opgenhaffen, Chairman
2) Mr. Mohammad Shirajul Islam, Managing Director
3) Mr. Sayeed Rezaraj Ahmmad
(Nominee Director of NJ Holdings Ltd.)
4) Mr. Sadad Rahman, Independent Director
5) Mr. Bhuban Chandra Sil, Independent Director

SS Steel Limited

ABOUT THE ISSUER:

The principal activities of the company are manufacturing of 500W MS-Deformed Rod, MS-Ingot, Billet, steel for the reinforcement of concrete (Ribbed Bar).

PRODUCTS:

S.S. Steel Limited has been set up to produce different types of MS-Bar (Rod). At present there are different
varieties of products in relation to thickness and in category.

NAME OF SUBSIDIARIES:

There is no subsidiaries company of SS Steel Limited.

ADDRESS:

Registered Office:

Pearl Trade Center, Cha-90/3 Pragati Sarani North Badda, Dhaka-1212, Bangladesh

Phone: +88-02 9815966-7
Fax: +88-02 9815968
Email: info@sssteel.biz

Web Address: www.sssteel.biz
Factory Office:
Plot-04, Block-B, Tongi Industrial Area, Gazipur
Phone: +88-02 9813680
Fax: +88-02 9815968

MAJOR FINANCIAL INFORMATION AS FOLLOWS:

Figure in Tk.’000

Particulars 30-06-17
30-06-16
30-09-2015 30-09-2014

30-09-2013

   
Revenue 3003309 1818865 2143818 2104662 2104589
Gross Profit 680614 401317 452075 372010 354201
Net Profit before tax 315325 155100 158234 34040 28907
Net Profit after tax 265019 95480 11584 27675 22550
Total Assets 6096070 5022005 2985385 2620282 2406903
Share Capital 2200000 2200000 99500 99500 67000
Retained Earnings 468613 192282 92458 74713 72984
No. of Shares 220000 220000 9950 9950 670
Face Value 10.00 10.00 100.00 100.00 100.00
NAV per Shares (With Revaluation) 15.35 14.31 613.00 674.00 960.00
Earnings per Share 1.20 1.20 11.64 28.00 34.00
Earnings per Share (Restated) 1.20 0.43 0.05 0.12 0.10

SS STEEL LIMITED EPS & NAV:

As per the financial statement for the year ended on June 30, 2017, the company’s Net Asset Value (NAV) without revaluation stood at Tk 12.00 per share and NAV with revaluation stood at Tk. 15.35 and EPS was Tk 1.20.  Weighted average EPS was Tk. 0.82.

SS Steel Limited

ISSUE MANAGER:

Citizen Securities and Investment Limited working as the manager to the issue.

WHY PUBLIC OFFERING:

Bangladesh Securities Exchange Commission (BSEC) approved IPO of above Co. on 17 July 2018. The companies will raise a fund worth Tk. 250.00 million.

Proceeds from Initial Public Offering (IPO) will be used for proceeds from initial public offering (IPO) will be used for purchase of plant & machinery and construction of new factory building and IPO expenses.

NOS. OF SHARE OFFER: 2,50,00,000
VALUE OF IPO: Tk. 250,000,000/=
FACE VALUE: Tk. 10/=
PREMIUM VALUE: Nil
MARKET LOT: 500
MINIMUM LOT VALUE:
Tk.5000/=
SHARE ALLOTMENT: 32% for General Public=16,000 lot and 8% for Affected Investors=4,000 lot, 40% for Eligible Investor (EI) =20,000 lot, 10% for NRB = 5,000 lot and 10% for Mutual Fund =5,000 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 date and final prospectus will be coming soon.

DOWNLOAD IPO FORM HERE:

Res./EI./NRB Application Form

SS Steel Limited: DRAFT PROSPECTUS

 

DOWNLOAD LOTTERY RESULT HERE:

YET TO BE PUBLISHED

Stock Broker / Merchant Bank Code

General Public

Affected Investors

Non-Residence Bangladeshi (NRB)

Eligible Investors

Mutual Fund

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