2024-02-15 00:55:01
Bangladesh Securities and Exchange Commission (BSEC) has approved the Qualified Investor Offer (QIO) of Craftsman Footwear & Accessories Limited to raise funds from the capital market. This company has been approved to withdraw Tk 5 crore in order to create long-term financing opportunities in the SME sector, said the Commission.
This approval was given in the 900th commission meeting of BSEC on Wednesday (February 14). BSEC Executive Director and Spokesperson Mohammad Rezaul Karim signed this information in a press release.
According to the Bangladesh Securities and Exchange Commission (Qualified Investor Offer by Small Capital Companies) Rules, 2022, Craftsman Footwear & Accessories Limited will issue 5 million ordinary shares of Craftsman Footwear & Accessories and raise capital of Tk 5 crore. Each share will be issued to eligible investors through QIO at a price of Rs.
The capital raised by the company will be spent on balancing, modernisation, expansion and replacement, repayment of bank loans, working capital management and issue management expenses.
According to the company’s financial statement for the period from July 1, 2022 to June 30, 2023, Earnings per Share (EPS) stood at Tk 2.35 and Net Asset Value per Share (NAVPS) stood at Tk 16.72.
The issuer company cannot issue any bonus shares for the next 3 years from the date of transaction on the SME platform. Green Delta Capital Limited is responsible for the issue management of the company.