** People rescuing an injured passenger from inside a passenger bus hit by a truck on Dhaka-Mawa Expressway in Shologhar area of Shreenagar upazila in Munshiganj on Thursday. ** Motorcycles allowed on Padma Bridge after 10 months ** Commuters charge extra fare, passengers disappointed ** 78 people killed in Yemen stampede ** Moon sighting committee meets today to ascertain Eid day ** 9 killed in road accidents in 3 districts ** US announces new $325 m military aid package for Ukraine ** Eid-ul-Fitr in Saudi Arabia today ** Eid exodus begins ** LPG price cut illusive ** 15 hurt as bus overturns in capital ** New interbank cheque clearing timings set for Eid holidays ** Four women hit by a train die in Tangail ** 12.28 lakh SIM users left Dhaka on Tuesday ** Sylhet engineer threatened over power outage ** People rush to village homes to spend Eid holidays with their near and dear ones. This photo was taken from Sadarghat Launch Terminal on Tuesday. NN photo ** Surge in cases of dehydration, diarrhoea amid summer heat wave ** Padma Bridge construction cost increases by Tk 2,412cr ** PM gives Tk 90m to Bangabazar fire victims ** Textile workers block highway demanding wage, Eid bonus ** Attack on PM's motorcade Ex-BNP MP, 3 others get life term ** Load-shedding increases for demand of electricity during heat wave ** Motorbikes to be allowed on Padma bridge from Thursday ** 5-day Eid vacation begins from today ** Take Nangalkot train accident as a warning about negligence of govt functionaries **

IPO subscription of ADN Telecom begins

05 November 2019

Economic Reporter :
The Initial Public Offering (IPO) of ADN Telecom Limited begins from Monday with the company aiming to raise Tk57 crore from the capital market through Book Building method.
The IPO will stay open for both resident and non-resident Bangladeshis till November 11 this year. The market lot is consisted of 100 shares while each IPO share is priced at Tk27.
The Bangladesh Securities and Exchange Commission (BSEC) last September approved the prospectus for the IPO of ADN Telecom.
The cut-off price on the Initial Public Offering of ADN Telecom was set at Tk27 per share as the company aims to raise Tk57 crore from the capital market.
As per the book building method, eligible institutional investors took part in the price discovery of the shares by bidding over a fixed time.
The BSEC on August 15 last year allowed ADN Telecom to conduct eligible institutional investors (EII) bidding under the book building method of public issue rules.
The commission, under the public issue rules, decided to offer ADN's IPO shares to general and non-resident Bangladeshi investors at 10% discount of cut-off price which was set by the bidding of the institutional investors.
As per the bidding of EIIs, the cut-off price of the company's shares stood at Tk30 and so shares would be allotted to general investors along with NRB investors at Tk27 each.
Under the public issue rules, of the 1.97 crore IPO shares of ADN, 1.18 crore will be allocated to EIIs, 79.16 lakh shares will be offered to the general and NRB investors.

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