Global Heavy Chemicals Ltd

StockNewsBD.com / 27 September —Securities and Exchange Commission (SEC) has approved the Initial Public Offerings (IPO) of Global Heavy Chemicals Ltd (GHCL).On Wednesday, 26th September, the 446th commission meeting of Securities and Exchange Commission (SEC) held, where SEC chairman M. Khairul Hussain was in the chair.The regulatory board decided on the meeting to allow Global Heavy Chemicals Ltd to raise Tk 240 million from public.The company will issue 120 million ordinary shares of Tk 10 each at an offer price of Tk 20 each using fixed price method to collect Tk 240 million from capital market. The offering will include Tk 10 per share as premium.As per its financial statement of 2011, earning per share (EPS) of the company is Tk 3.71.BMSL Investment and AFC Capital Limited will work as the issue manager for the IPO.

Global Heavy Chemicals Ltd, a sister concern of OPSONIN GROUP was incorporated on the 19th of September 2000. In the beginning of 21st Century, GHCL starts its journey as the first private sector Chlor-Alkali Industry in Bangladesh.Products of Global Heavy Chemicals Ltd., such as Caustic Soda, Chlorine, Calcium Hypochlorite, Sodium Hypochlorite, Hydrochloric Acid, and Hydrogen Gas etc. will be used as “building blocks” to other industries of various dimensions to manufacture thousands of  products required in everyday life.—- Sumon Khan, Chief Editor.