Four IPOs hit stock market next month

Staff Correspondent Four initial public offerings of three companies
and a mutual fund will hit the stock market next month with the four
entities floating shares worth some Tk 89.43 crore. The four
entities are Marico Bangladesh Ltd, ICB AMCL 2nd Mutual Fund, Islami
Insurance Bangladesh Ltd, and Dacca Dyeing and Manufacturing Company
Ltd. Marico Bangladesh, a multinational company, will float
14,92,100 shares worth some Tk 13. 43 crore. The offer price of the
company's share is Tk 90 each ( including a premium of Tk 80),
according to SEC sources. Subscription of the Marico Bangladesh's
share will begin on August 2 and finish on August 6. For the
non-resident Bangladeshis, the closing date will be on August 16.
IDLC Finance Ltd and Equity Partners Ltd are the issue managers of the
company's IPO. The subscription of IPO of ICB AMCL 2nd Mutual Fund
will begin on August 9 and finish on August 16. For the NRBs, the
closing date will be on August 25. The mutual fund, sponsored by
ICB Capital Management Ltd, will float 50 lakh shares of Tk 100 each
totalling Tk 50 crore. Resident Bangladeshis will get units worth
Tk 30 crore, while units worth Tk 5 crore will be reserved for NRBs,
and another Tk 5 crore for mutual funds. Sponsors will get units worth
Tk 10 crore. ICB Asset Management Company Ltd, a subsidiary of
Investment Corporation of Bangladesh, is working as asset manager of
the fund. Islami Insurance Bangladesh Ltd will float 9 lakh shares
of Tk 100 each totalling Tk 9 crore. Subscription period of the
company's IPO will be from August 16 to August 20. For NRBs, the
closing date will be on August 29. AAA Consultants and Financial
Advisers Ltd is the manager to the issue. Dacca Dyeing and
Manufacturing Company Ltd will float its IPO from August 30 to
September 3. For NRBs, the deadline will be on September 12. The
company will float 1.7 crore shares of Tk 10 each totalling Tk 17
crore. ICB Capital Management Ltd, a subsidiary of ICB, is the
manager to the issue. The four companies offering IPOs next months
are: * Marico Bangladesh Ltd * ICB AMCL 2nd Mutual Fund *
Islami Insurance Bangladesh Ltd * Dacca Dyeing and Manufacturing
Company Ltd.