Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Ananda IPO on ice

Ananda IPO on ice

Dhaka: Ananda Shipyards & Slipways' plan to raise funds through IPO was put on ice after the Bangladeshi government banned fund-raising in the wake of the turmoil in the country's stock market.

Yard executive director Tariqul Islam confirmed it had pushed back its plans until April or May due to the orders issued last week that prohibit any fund raising from the market following a 30% plunge in values.

The Dhaka-based shipbuilder planned to issue 30 million shares to raise funds.

Islam says Ananda was looking for nearly $40m to modernize its existing facility near the capital.

Ananda's orderbook is currently comprised of 10 newbuildings worth $129m.  [02/02/11]


Hide comments
account-default-image

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish

SMN_Podcast_Leaderboard.jpg