CHINA: MI CEMENT IPO

MI Cement Factory Ltd that makes Crown brand cement will raise Tk 334 crore floating three crore ordinary shares of Tk 10 each using the book-building method.

The cut-off price for each share has been fixed at Tk 111.60, meaning an individual will have to apply with Tk 11,160 for a market lot of 100 shares.

With the funds raised, the cement maker will expand its business.

The EPS of MI Cement as of 2009 was Tk 16 and NAV per stock was Tk 15.78.

MI Cement will be the sixth cement maker in the stockmarket.