FE Report
Share trading of RAK Ceramics, a Bangladesh-UAE joint venture, will begin Sunday under book building method in the stock exchanges.
It is the first company, which will make debut on Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE), using such modern pricing mechanism for initial public offering (IPO) introduced in March of last year.
The Dhaka Stock Exchange board in a meeting Wednesday approved the listing and fixed the date of debut trading of the issue.
Public subscription of the RAK, which opened on April 25 and ended on April 29, was oversubscribed by 13 times at cut-off price of Tk 48.
RAK offered 34.51 million equity shares under the book-building method.
Bidding for Eligible Institutional Investors (EIIs) was open from March 1-3, which was subscribed over 15 times.
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