Emerald Oil Industries Ltd. IPO approved – www.spondonoil.com

emareld oilEmerald Oil Industries Ltd. IPO approved Today – www.spondonoil.com. Bangladesh Securities and Exchange Commission approved IPO of Emerald Oil Industries Limited, which is able to issue 2 core ordinary shares from public and will take 20 cores taka.

Emerald Oil IPO Result

Emerald Oil Industries Ltd. has been producing rice bran edible oil, Spondon since 2011. Rice bran oil is one kind of oil that is extracted from the inner husk of rice plants.

Emerald Oil Industries Limited is rice bran edible oil producer, has got opportunities from the securities regulator to go public. Emerald Oil Industries Ltd. Official website is www.spondonoil.com.

The proceeds will be used for repayment of term loan, IPO expenses and strengthening the capital base. Emerald Oil Industries Ltd. earnings per share was Tk2.85 and net asset value Tk14.06, as said by Company’s financial statement as of June 30, 2013.

Emerald Oil IPO form

The securities regulator also fined two brokerage firms – RN Trading Ltd, member of the Dhaka Stock Exchange, and Jalalabad Securities Ltd, member of the Chittagong Stock Exchange Tk100,000 each for short selling.

Short selling is the selling of a stock that the seller doesn’t own. More specifically, a short sale is the sale of a security that isn’t owned by the trader, but that is assured to be delivered. Alliance Financial Service Ltd will act as a Issue manager of this Initial Public Offer.

Emerald Oil Industries IPO Subscription Details

Subscription open     06 January 2014
Subscription close    12 January 2014
Subscription close for NRB     06 January 2014 to 21 January 2014

Emerald Oil Industries IPO Form & prospectus

Resident Form

NRB Form

Affected Form

Emerald Oil Industries Limited Offer price Tk. 10.0, Face value per share Tk. 10.0 , Market lot  500 units and Single lot price Tk. 5000.00.

Emerald Oil Industries Ltd . Address:

Jahan plaza (2nd Floor), 42 / 1-ka, Segun Bagicha , Dhaka-1000. Telephone: 0171-3032085

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