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Securities Exchange Commission approves GPH Ispat IPO
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Friday, 02 Dec 2011

It is reported that the Securities & Exchange Commission has approved the IPO prospectus of a steel manufacturing company, which will raise BDT 60 crore from public.

The approval to the initial public offering of GPH Ispat Limited came at a meeting of the stock market regulator with SEC chairman Dr M Khairul Hossain in the chair.

Mr Saifur Rahman spokesman of SEC said that GPH Ispat will float two crore ordinary shares of BDT 10 at an offer price of BDT 30 each, including BDT 20 as premium.

Mr Rahman, also an executive director of the SEC, said that the IPO proceedings will be used in repaying loans and paying taxes. AAA Consultants and Financial Advisers is the issue manager of the GPH Ispat IPO.

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