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“If you have any query about this document, you may consult issuer, issue manager and underwriters” For PUBLIC OFFERING OF 50,000,000 ORDINARY SHARES OF TK. 10 EACH AT AN ISSUE PRICE OF TK. 25 EACH INCLUDING A PREMIUM OF TK. 15 PER SHARE TOTALING TO TK. 1,250,000,000 Of REGENT TEXTILE MILLS LIMITED Opening date for subscription: October 14, 2015 Closing date for subscription (Cut-off date): October 25, 2015 MANAGER TO THE ISSUE LANKABANGLA INVESTMENTS LIMITED EUNOOS TRADE CENTRE, LEVEL # 21, 52-53, DILKUSHA C/A, DHAKA-1000 TEL: +88 02 711 35 85; FAX: +88 02 711 57 56; E-MAIL: [email protected]; WEBSITE: www.lankabangla-investments.com UNDERWRITERS LANKABANGLA INVESTMENTS LIMITED GSP INVESTMENTS LIMITED Eunoos Trade Centre, Level # 21, 52-53, Dilkusha C/A, 1/C, Paribagh, Mymensingh Road, Ramna, Dhaka- 1000. Dhaka-1000 CITIZEN SECURITIES & INVESTMENT LIMITED FIRST SECURITIES SERVICES LIMITED Al-Razi Complex (Suite # G-802), 166-167, Shaheed Syed Al-Razi Complex, 7th Floor, (Suite-G-702, 703), 166-167, Nazrul Islam Sarani, Purana Paltan, Dhaka- 1000. Shahed Syed Nazrul Islam Sarani, Purana Paltan, Dhaka- 1000. FIRST SECURITY ISLAMI CAPITAL & INVESTMENT EBL INVESTMENTS LIMITED LIMITED 59, Motijheel C/A, 1st Floor, Dhaka- 1000. 12th Floor, Al-Amin Center , 25/A, Dilkusha C/A, Dhaka- 1000. CREDIT RATING STATUS LONG TERM SHORT TERM Entity Rating A+ ST-3 Validity of Rating June 17, 2016 December 18, 2015 Date of Rating June 18, 2015 Outlook Stable Rated by Credit Rating Information and Services Limited (CRISL) Date of Publication of Abridged Version of Prospectus: September 17, 2015 The Issue shall be placed in “N” Category Regent Textile Mills Limited Registered Office: HG Tower, 1182 Jubliee Road, Chittagong 4000, Bangladesh. Tel: +88 031 286 82 04-6, 286 88 41-3 Fax: +88 (031) 286 82 07-8 Email : [email protected] Website: www.regenttex.com “CONSENT OF THE BANGLADESH SECURITIES AND EXCHANGE COMMISSION HAS BEEN OBTAINED TO THE ISSUE/OFFER OF THESE SECURITIES UNDER THE SECURITIES AND EXCHANGE ORDINANCE, 1969 AND THE SECURITIES AND EXCHANGE COMMISSION (PUBLIC ISSUE) RULES, 2006. IT MUST BE DISTINCTLY UNDERSTOOD THAT IN GIVING THIS CONSENT THE COMMISSION DOES NOT TAKE ANY RESPONSIBILITY FOR THE FINANCIAL SOUNDNESS OF THE ISSUER COMPANY, ANY OF ITS PROJECTS OR THE ISSUE PRICE OF ITS SECURITIES OR FOR THE CORRECTNESS OF ANY OF THE STATEMENTS MADE OR OPINION EXPRESSED WITH REGARD TO THEM. SUCH RESPONSIBILITY LIES WITH THE ISSUER, ITS DIRECTORS, CHIEF EXECUTIVE OFFICER/CHIEF FINANCIAL OFFICER, ISSUE MANAGER, UNDERWRITER AND/OR AUDITOR.” i AVAILABILITY OF PROSPECTUS Prospectus of Regent Textile Mills Limited may be obtained from the Issuer Company, the Manager to the Issue, the Underwriters and the Stock Exchanges as follows: Issuer Company Contact Person Contact Tel: +88 031 286 82 04-6, 286 88 41- Regent Textile Mills Limited Mr. Anjan Kumar Bhattacharyya 3 HG Tower, 1182, Jubliee Road, Chief Financial Officer Fax: +88 031 286 82 07-8 Chittagong 4000, Bangladesh Email : [email protected] Manager to the Issue Contact Person Contact LankaBangla Investments Limited Tel: +88 02 711 35 85 Eunoos Trade Centre, Level # 21, 52-53, Mr. Khandakar Kayes Hasan, CFA Fax: +88 02 711 57 56 Dilkusha C/A, Dhaka-1000 Chief Executive Officer Email:kayes@lankabanglainvestments .com Underwriters to the Issue Contact Person Contact Tel: +88 02 711 35 85 LankaBangla Investments Limited Mr. Khandakar Kayes Hasan, CFA Fax: +88 02 711 57 56 Eunoos Trade Centre, Level # 21, 52-53, Chief Executive Officer Email:kayes@lankabanglainvestments Dilkusha C/A, Dhaka-1000 .com Citizen Securities & Investment Limited Tel: +88 02-951 45 42 Al-Razi Complex (Suite # G-802) Mr. Tahid Ahmed Chowdhury Fax: +88 02-957 05 46 166-167, Shaheed Syed Nazrul Islam Sarani Managing Director & CEO E-mail: [email protected] Purana Paltan, Dhaka- 1000. First Security Islami Capital & Tel:+88 02- 711 17 09, Investment Ltd. Mr. M. Anwar Husain Fax: +88 02-951 59 17 12th Floor, Al-Amin Center , 25/A, Dilkusha Chief Executive Officer E-mail: [email protected] C/A, Dhaka- 1000. GSP Investments Limited Tel: +88 02-967 44 25, Mr. Md. Shahan Reza 1/C, Paribagh, Mymensingh Road, Ramna, Fax: +88 02-967 43 79 Senior Manager Dhaka- 1000. E-mail: [email protected] First Securities Services Limited Mr. Reza Humayun Morshed Tel:+88 02-958 53 25, 02-958 53 26 Al-Razi Complex, 7th Floor, Suite-G-702, 703 Hayat, ACA, ACMA Fax: +88 02-958 52 81 166-167, Shahed Syed Nazrul Islam Sarani Chief Executive Officer E mail: [email protected] Purana Paltan, Dhaka- 1000. Tel: +88 02-711 89 75 EBL Investments Ltd. Mr. Md. Tanvir Hashem Fax: +88 02-712 02 51 59, Motijheel C/A, 1st Floor, Dhaka- 1000 Manager E-mail: [email protected] Stock Exchanges Available At Contact Dhaka Stock Exchange Limited Tel: +88 02 956 46 01 Stock Exchange Building DSE Library Fax:+88 02 717 57 03-11 9/F Motijheel C/A, Dhaka-1000 Chittagong Stock Exchange Limited Tel: +88 031 714 632-3 CSE Building, 1080, Sheikh Mujib Road, CSE Library +88 031 720 871 Chittagong-4100 Fax: +88 02 951 39 11-15 Prospectus is also available on the websites of Regent Textile Mills Limited (www.regenttex.com), LankaBangla Investments Limited (www.lankabangla-investments.com), BSEC (www.sec.gov.bd), DSE (www.dsebd.org), CSE (www.csebd.com) and Public Reference room of the Bangladesh Securities and Exchange Commission (BSEC) for reading and study. Name and Address of the Auditor Tel: +88 031 71 63 05 +88 031 72 33 91 Hoda Vasi Chowdhury & Co Delwar Bhaban (4th Floor), 104, Fax: +88 031 710 362 Chartered Accountants Agrabad C/A, Chittagong-4100. Email : [email protected] Web site: www.hodavasi.com II TABLE OF CONTENTS Particulars Page Statutory Conditions 1-8 Disclosure in respect of issuance of security in DEMAT form 1 Conditions under 2CC of the Securities And Exchange Ordinance, 1969 1 General Information 8 Declarations and Due Diligence Certificates 9-11 Declaration about the responsibility of Director(s), including the CEO of the issuer company in respect of 9 the prospectus Consent of Director(s) to serve as Director(s) 9 Declaration about filing of Prospectus with the Registrar of Joint Stock Companies and Firms 9 Declaration by the Issuer about the approval from BSEC for any material changes 10 Declaration by the Issue Manager about the approval from BSEC for any material changes 10 Due Diligence Certificate of the Manager to the Issue 10 Due Diligence Certificate of the Underwriter(s) 11 Risk Factors and Management Perception about Risks 12-14 Issue Size and Purpose of IPO 15-16 Capital Structure 15 Use of Proceeds from IPO 15 Schedule of Implementation 16 Information about the Company 17-23 Company Profile 17 Nature of Business 17 Principal Products and Services 17 Products/Services that account for more than 10% of the Company‟s total revenue 18 Associates, Subsidiary/related Holding Company and their core areas of business 18 Distribution of Products/Services 18 Competitive Condition of Business 18 Sources and availability of Raw Materials and Principal Supplier 20 Sources of and requirement for Power, Gas and Water or any other utilities 21 Customers providing 10% or more Revenues 21 Description of Contracts with Principal Suppliers/Customers 22 Number of Employees 22 Production/Service rendering Capacity and Current Utilization 22 Description of any Material Patents, Trademarks, Licenses or Royalty Agreements 23 Description of Property 24-30 Location and Description of Property 24 Plan of Operation & Discussion of Financial Conditions 31-38 Internal & External Sources of Cash 31 Material Commitments for Capital Expenditure 31 Seasonal aspects of the Company‟s Business 31 Known Trends, Events, Uncertainties 31 Causes of Material Changes from period to period 31 Change in Assets of the Company used to Pay-off Liabilities 33 Loan taken from or given to Holding/Parent Company or Subsidiary Company 33 Future Contractual Liabilities 33 Future Capital Expenditures 33 VAT, Income Tax, Customs Duty or other Tax Liability 33 Operating Lease Agreements during the last Five Years 35 Financial Lease Commitments during the last Five years 35 Personnel related Schemes 35 Estimated Expenses related to IPO 36 Revaluation of Company‟s Assets 37 Transaction between Subsidiary/Associate/Holding Company and the Issuer 38 Auditor‟s Certificate regarding any Allotment of Shares to the Directors and the Subscriber to the 38 Memorandum of Association and Articles of Association for any Consideration otherwise than for cash Declaration regarding Suppression of Material Information 38 Information about Directors and Officers 39-51 Directors of the Company 39 Information regarding Directors and Directorship 39 Directors‟ involvement in other Organizations 39 Family relationship among Directors and top 5 Officers 42 Short Bio-Data of Directors 43 Credit Information Bureau (CIB) Report 45 Description of Top Executives and Heads of Departments 46 Involvement of Directors and Officers in certain Legal Proceedings 46 Certain Relationships and Related Transactions 47 Executive Compensation 48 Options granted to Directors, Officers and Employees 48 Transactions with the Directors and Subscribers to the Memorandum 48 Tangible Assets per Share 49 Ownership of Company‟s Securities 50 Shareholding of 5% or more of the Company‟s Securities 50 Securities of the Company owned by the Directors, top ten Salaried Officers and all other Officers as Group 50 Features of IPO 52-55 Determination of Offering Price 52 Market for the Securities being Offered 54 Declaration
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