Appollo Ispat Complex ltd

StockNewsBD.com / 17 December —  Securities and Exchange Commission (SEC) has approved the Initial Public Offerings (IPO) of Appollo Ispat Complex ltd.On Thursday, 13th December, the 460th 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 Appollo Ispat Complex ltd to raise Tk 220 crore from public.The company will issue 10 crore ordinary shares of face value Tk 10 each at an offer price of Tk 22  to collect Tk 220 crore from capital market.The offering will include Tk 12 per share as premium.As per its financial statement of the year ended on 30 June 2012, earning per share (EPS) of the company is Tk 2.36 and NAV is Tk. 22.59.The subscription period of the company will probably start on March 2013.