FE Report
The Dhaka Stock Exchange (DSE) listing committee has recommended listing of private carrier United Airways with the bourse.
The recommendation, which was made at a meeting of the committee held Wednesday, was forwarded to the DSE board which will fix the debut trading day of the new issue.
The DSE board meets today (Thursday).
United Airways offered 10 million shares to raise Tk 1.0 billion through an initial public offering (IPO), which will be the first listed airlines in Bangladesh stock market.
The face value of each share is Tk 100.
After IPO, its paid up capital stood at Tk 2.0 billion.
The airline will use the capital in expanding its horizon in international flight operations, according to its prospectus.
United Airways, which entered the domestic aviation market in July 2007, has some 500 shareholders, 95 per cent of which are non-resident Bangladeshis (NRBs) living in the UK. It started its domestic passenger flights on July 10, 2007.
It entered into the international arena on September 24, 2008 by launching its Dhaka-Kolkata flight.
The IPO subscription was opened on May 16 and closed on May 20 for local and on July 4 for NRBs.