Tosrifa Industries’ IPO approved

BSEC Commission approved IPO of Tosrifa Industries Ltd. in the 538th Commission Meeting dated: 10-2-15. Furthermore, the Company will raise capital BDT 63, 87,21,200/- issuing 2,45,66,200 shares with an issue price of tk. 26 each (Premium Tk. 16 each share) through IPO.

The Company will use the fund for the expense of Ongoing and Expansion project and IPO. As per financial report year ending 31st December 2013, it’s EPS tk. 2.49 and NAV Tk. 34.41. IDLC Investments Ltd. is the Issue Manager of the Company.

The information was explained in a press release by Mr. Md. Saifur Rahman, Executive Director, BSEC

The Company is a 100% export oriented vertical set up for knit apparels manufacturer in Bangladesh. It is established in the year of 2002, is one of the sister concerns of NORTHERN GROUP.