The New Nation - Internet Edition

BUSINESS REPORT

The listing sub-committee of Dhaka Stock Exchange (DSE) approved the application of Delta BRAC Housing Finance Corporation (DBH) on Sunday paving the way of listing on the country's prime bourse.

Delta BRAC Housing, one of the country's largest private housing financing companies, however will get the final approval from the DSE board in a meeting scheduled today (Tuesday).

"The DSE board will also decide the debut trading date of the new issue in the meeting," said a DSE official.

Earlier on April 8, lottery for share allotment of the DBH was held at the Bangladesh-China Friendship Conference Center in the city.

The initial public offering (IPO) of the company was oversubscribed by more than 50 times.

The DBH floated five lakh shares having an offer value of Tk 210 per share with a face value of Tk 100 and premium Tk 110 to raise Tk 105 million from the stock market.

The Securities and Exchange Commission gave the nod for flotation of shares of the DBH in January last.

DBH, incorporated in May 1996, also the country's leading non-banking financial institution (NBFI), provides loans for construction of houses, purchase of flats or houses, extension and improvement of existing houses and purchase of housing plots.

The pre-IPO paid up capital of the company was Tk 220 million and the authorised capital Tk 500 million, the company said in a draft prospectus for IPO. The earning per share (EPS) of the company was Tk 45 in the year ending in June 2006 and Tk 56 to June 2007.