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 Matin Spinning to go public under book-building method

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Posts : 63
Join date : 2010-06-05

PostSubject: Matin Spinning to go public under book-building method   Wed Jun 23, 2010 4:53 am

FE Report

Matin Spinning Mills Limited, a flagship concern of DBL Group, signed an agreement recently, with IDLC Finance Limited for going public under book building method, officials of IDLC Finance said.

IDLC Finance Limited will act as an issue manager for Matin Spinning Mills.

On the occasion of signing the agreement DBL Group Chairman Mr. Abdul Wahed, Managing Director M.A. Jabbar, Managing Director and CEO of IDLC Finance Selim R.F. Hussain and Deputy Managing Director Arif Khan were present.

Arif Khan said it would take at least ten months to pave the way for floating Initial Public Offering (IPO) for Matin Spinning Mills.

"We are expecting that Matin Spinning Mills will float IPO in the capital market in next April or May," he said.

Matin Spinning Mills Limited is a one hundred per cent export oriented cotton spinning mill with state-of-the-art machinery and equipment from reputed brands having production capacity of 25,000 kg per day.

The company started commercial operation in October 2006 and was launched with the vision to meet the backward linkage needs of RMG industry.
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