Esquire Knit to hold road show for investors today

Dhaka,  Mon,  21 August 2017
Published : 18 Apr 2017, 13:38:00
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Esquire Knit to hold road show for investors today

FE Online Report
Esquire Knit Composite, a strategic business unit of Esquire Group in Bangladesh, will hold road show for institutional investors today (Tuesday) under its process to go public using the book building method.

The road show of the forthcoming IPO of Esquire Knit Composite will be held at the Radisson Blu Water Garden Hotel at 7.00pm which will raise Tk 1.50 billion from the stockmarket.

A road show is a presentation by an issuer of securities to potential buyers. A road show is a requirement under the book building regulations before price discovery of the company’s shares.

Prime Finance Capital Management is the issue manager of the IPO of Esquire Knit Composite. The issue manager will display the company’s fundamentals to the eligible institutional investors, including Merchant banks, asset management companies, stock dealers, banks, other financial institutions, insurance companies and alternative investment fund managers during the road show.

Of the proceeds, Tk 1.42 billion will be used for building construction, Tk 431 million for dyeing and washing machinery procurement, and the rest Tk 64.4 million for IPO expenses.

Located at Sonargaon in Narayanganj, Esquire Knit has been emerging as a conglomerate with knitting, fabric dyeing and finishing, cutting, sewing, industrial laundry, embroidery, printing and washing facilities under one roof since its commercial launch in 2001.

-bb/rmc//
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