PHP Float Glass gears up for public offer

PHP Float Glass Industries Ltd plans to go public to raise funds for enhancing working capital, business expansion and repayment of loans taken from financial institutions.

If approved by the regulator, it will be the first glass manufacturing company from the private sector to enter the country's stockmarket after the lone state-run listed firm Usmania Glass.

PHP Float Glass, a concern of Chittagong-based PHP Group, will float three crore ordinary shares of Tk 10 each using the book building method, a modern pricing mechanism for initial public offering (IPO).

The company that specialises in making float glass, organises a roadshow in Dhaka today for institutional investors for indicative price setting of its shares.

A roadshow is required by the book building regulations and the eligible institutional investors will not be allowed to participate in the bidding unless they participate and quote prices at the roadshow for setting the indicative price.

Read the full story on the link bellow.

600450 PHP Float Glass gears up for public offer
Date: 20 January 2011

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