Market Watch, Stock News

IPO of Cyrstal Finance from 16th June 09

Published by Octron on June 17, 2009

The marathon of IPO doesn’t seem to stop anytime soon this june, suddenly out of nowhere NMB issued IPO of Crystal Finance Co. Ltd on 16th June 2009. All the business seems to have come to halt and people are just busy filling up forms of IPO for past few weeks. Crystal Finance Ltd. is issuing 210000 shares as initial public offering from 16th June 2009 to 19th June 2009 (2066 Ashad 2 to 2066 Ashad 5) at Rs. 100 per share.

The race started from Sunrise Bank, followed by Prime Commercial Bank, Madhyamanchal Gramin Bikas Bank, Vibor Bank & now Crystal Finance. Still to come within this month are Chilime Hydro Power Co, Arun Hydropower Co, Public Development Bank Ltd.

According to the IPO Announcement Notice, the IPO release of 210,000 ordinary shares will constitute only 30% of the total shares (Total: 7,00,000, Promoters: 70%, i.e. 7,90,000). According to its financial statement published along with the annoucement letter. The company made mere Rs. 29,96,000 profit in FY 062/063, while in FY 064/65 the profit rose to Rs. 1,07,08,000. Click on the image below for the Financial statement with past years numbers along with forcasted figures;