RSRM’s right share offer scrapped
Skip to main content
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Splash
  • Features
  • Videos
  • Long Read
  • Games
  • Epaper
  • More
    • COVID-19
    • Bangladesh
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Subscribe
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
The Business Standard
TUESDAY, MAY 17, 2022
TUESDAY, MAY 17, 2022
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Splash
  • Features
  • Videos
  • Long Read
  • Games
  • Epaper
  • More
    • COVID-19
    • Bangladesh
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Subscribe
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
RSRM’s right share offer scrapped

Stocks

TBS Report
26 November, 2020, 09:45 pm
Last modified: 26 November, 2020, 09:48 pm

Related News

  • Sonali Paper gets BSEC nod to issue rights shares
  • RSRM incurs Tk38cr loss in FY21
  • ‘We will turn RSRM into a multinational corporation from a family business’
  • RSRM set to resume production this month
  • RSRM hopes to disburse FY20 dividends from Sept

RSRM’s right share offer scrapped

The company wanted to collect Tk100 crore from the share market by issuing the right shares for modernising its factory and repaying loans

TBS Report
26 November, 2020, 09:45 pm
Last modified: 26 November, 2020, 09:48 pm
RSRM’s right share offer scrapped

KEY FINANCIALS

  • RSRM's paid-up capital is Tk101.19 crore
  • Loss per share was Tk1.06 in July-Sept quarter of FY21
  • NAV per share was Tk48.63
  • Gave 10% cash dividend on 30 June 2020
  • Closing price was Tk22.9 per share on Thursday

The stock market regulator has cancelled an application of Ratanpur Steel Re-Rolling Mills (RSRM) Ltd, seeking to issue the right shares.

The company wanted to collect Tk100 crore from the share market by issuing the right shares to invest in modernising its factory and repaying loans.

The Bangladesh Securities and Exchange Commission (BSEC) has issued letters in this regard on Thursday.

The principal activities of the company are to manufacture and sell MS bars of various grades made from MS billets.  

A BSEC official said the company did not submit documents on the right shares' offer with the latest accounts within the stipulated time frame.

RSRM took time twice but failed to comply with the BSEC instructions, the official added.

Tahid Ahmed Chowdhury, managing director of EBL Investment Ltd and the issue manager of RSRM, said the company took time till 31 October 2020 for submitting the documents to the commission.

"But the company is not eager to submit the documents because it will not get a premium perhaps if the right shares are approved by the commission."

The company wanted to issue two right shares against every three shares of the firm.

The price of every right share would be Tk10. With a premium of Tk5, the total price of every right share would be Tk15.

Earlier, the company had decided to issue every right share at Tk20 with a Tk10 premium, but this decision was revoked.

RSRM's paid-up capital is Tk101.19 crore and the number of shares is 10.12 crore. The company wanted to issue 6.75 crore more right shares.

On Thursday, the price of each share of the company was Tk22.90.

After the July-September quarter of 2020-21 financial year, loss per share of the company was Tk1.06 and net asset value (NAV) per share Tk48.63.

On 30 June 2020, the company gave a 10% cash dividend to its shareholders.

The company's net profit was Tk10.63 crore and earnings per share were Tk1.05.

Its revenue was Tk323.90 crore, which was Tk680.87 crore in the previous year.

The entrepreneurs and the directors hold 47.03% shares of the company. Institutional investors hold 19.88% and general investors 33.09% of the shares.

The company got listed on the country's stock exchanges in 2014.

Bangladesh / Top News

RSRM / Right Share Offer

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Are banks only gainers from dollar crisis?
    Are banks only gainers from dollar crisis?
  • PK Halder wants to return home
    PK Halder wants to return home
  • Exporters for continuation of 0.5% source tax for 5 years 
    Exporters for continuation of 0.5% source tax for 5 years 

MOST VIEWED

  • Logo of Investment Corporation of Bangladesh’s (ICB). Picture: Collected
    ICB writes to lenders for revolving funds
  • Investors’ rush to exit drags DSEX to 9-month low
    Investors’ rush to exit drags DSEX to 9-month low
  • BSEC seeks long-term investment data from Premier Cement
    BSEC seeks long-term investment data from Premier Cement
  • International Leasing, FAS Finance shares soar after PK Halder’s arrest
    International Leasing, FAS Finance shares soar after PK Halder’s arrest
  • DSEX drops over 2%
    DSEX drops over 2%
  • Union Capital heading in the same direction as People’s Leasing, BIFC
    Union Capital heading in the same direction as People’s Leasing, BIFC

Related News

  • Sonali Paper gets BSEC nod to issue rights shares
  • RSRM incurs Tk38cr loss in FY21
  • ‘We will turn RSRM into a multinational corporation from a family business’
  • RSRM set to resume production this month
  • RSRM hopes to disburse FY20 dividends from Sept

Features

Bitcoin, by far the largest cryptocurrency, is a terrible substitute for government-issued money. Photo: Reuters

Crypto’s wild week offers a much-needed warning

11h | Panorama
Karst Stone Paper Journal: Write on indestructible stone paper

Karst Stone Paper Journal: Write on indestructible stone paper

12h | Brands
Pesky bugs do not stand a chance against this automatic indoor insect trap

Pesky bugs do not stand a chance against this automatic indoor insect trap

12h | Brands
Wazeenah: Turning furniture into a canvas

Wazeenah: Turning furniture into a canvas

12h | Brands

More Videos from TBS

Finland, Sweden decide to join NATO

Finland, Sweden decide to join NATO

3h | Videos
Where you can swim for Tk5

Where you can swim for Tk5

5h | Videos
Cultural activists pay tribute to Hassan Arif

Cultural activists pay tribute to Hassan Arif

8h | Videos
How PK Halder becomes a scamster

How PK Halder becomes a scamster

8h | Videos

Most Read

1
Representative Photo: Pixabay.
Bangladesh

Microplastics found in 5 local sugar brands

2
Mushfiq Mobarak. Photo: Noor-A-Alam
Panorama

Meet the Yale professor who anchors his research in Bangladesh and scales up interventions globally

3
Impact of falling taka against US dollar
Banking

Taka losing more value as global currency market volatility persists

4
Govt tightens belt to relieve reserve
Economy

Govt tightens belt to relieve reserve

5
Union Capital asked to return Tk100cr FDR to BATBC 
Banking

Union Capital asked to return Tk100cr FDR to BATBC 

6
How Bangladesh can achieve edible oil self-sufficiency with local alternatives
Bazaar

How Bangladesh can achieve edible oil self-sufficiency with local alternatives

The Business Standard
Top
  • Home
  • Entertainment
  • Sports
  • About Us
  • Bangladesh
  • International
  • Privacy Policy
  • Comment Policy
  • Contact Us
  • Economy
  • Sitemap
  • RSS

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net

Copyright © 2022 THE BUSINESS STANDARD All rights reserved. Technical Partner: RSI Lab