Hamid Fabrics floats 300 million IPO

Hamid Fabrics Limited (HFL), a Bangladeshi textile manufacturer has floated 300 million shares for BDT 1.05 billion. Worth BDT 35 each, the shares have made HFL one of the top textile profiteers. Of the funds raised from the stock market, the company plans to spend BDT 0.303 billion on repaying its loans, BDT 0.722 billion on expansion and BDT 0.025 billion on the Initial Public Offering (IPO), making HFL the 37^th textile stock on the Dhaka Stock Exchange. Founded in 1996, the company has weaving, dyeing, and finishing capabilities. It operates as a subsidiary of Mahin Group in Dhaka.