Textured Jersey Lanka - IPO opens on 7th July

Textured Jersey Lanka - IPO opens on 7th July. 80 million shares offered at Rs 15 each
http://www.cse.lk/cmt/upload_cse_announcements/5221308556918_.pdf

Learn more about company at : http://www.texturedjersey.com/

Previous discussion here

http://forum.srilankaequity.com/t1974-textured-jersey-to-raise-rs-29-billion

Sri Lanka textile firm to raise Rs1.2bn in July IPO
June 20, 2011 (LBO) - Textured Jersey Lanka, a Hong Kong Sri Lanka joint venture textile firm said it is raising 1.2 billion rupees in an initial public offer by selling 80 million shares at 15 rupees.

The Colombo Stock Exchange said it had given the nod for the sale to open on July 07.
The firm is a joint venture between Hong Kong listed Pacific Textile Holdings and Sri Lanka's Brandix, a private firm.

Textured Jersey can knit, dye and finish 2.5 million metres of fabric a month at its facilities in Avissawella in Sri Lanka.

Textured Jersey makes knitted fabrics for lingerie and sportswear industries. Amongst its largest clients are Victoria's Secret, Marks & Spencer and Intimissimi.

In April the firm said it raised 1.74 billion rupees through a private placement.

The Private placement was at Rs. 15 per share,

Yes WAPO bought Good stake in TJ Private Placement

Soon WAPO will hit 400

Wopo, Gurd, Cinv can be benifitted and end of the july it will be back to privious level or more

If you are new to the CSE, please do not trade on/ buy speculative stocks.

Academic wrote:If you are new to the CSE, please do not trade on/ buy speculative stocks.

I'm also relatively new to forum/CSE. Is WAPO is also a speculative stock ...? as I know it is part of Carsons Group, basically invest in PPs.

MoneyLover wrote:

Academic wrote:If you are new to the CSE, please do not trade on/ buy speculative stocks.

I'm also relatively new to forum/CSE. Is WAPO is also a speculative stock ...? as I know it is part of Carsons Group, basically invest in PPs.

Type WAPO in the search box and hit the search button. Then you will realize!

Academic wrote:

MoneyLover wrote:

Academic wrote:If you are new to the CSE, please do not trade on/ buy speculative stocks.

I'm also relatively new to forum/CSE. Is WAPO is also a speculative stock ...? as I know it is part of Carsons Group, basically invest in PPs.

Type WAPO in the search box and hit the search button. Then you will realize!

hic

WAPO has 2.3433 million shares of Textured Jersey (TJ), valued at Rs 35.3 million in its books - see page 44 & 47 of WAPO FY11 annual report.

Even if TJ share were to optimistically rise 50%, WAPO gain would be only Rs 17.7 million, that is under 70 cents for each of the 25.834 million shares of WAPO in issue.

Textured Jersey Lanka Ltd.’s Rs. 1.2 billion worth Initial Public Offering (IPO) will be available for subscription from next week.
This follows the Colombo Stock Exchange (CSE) approving in principle an application for main board listing of voting shares of Textured Jersey.
The IPO will make available 80 million ordinary voting shares at Rs. 15 each, to raise funds for the expansion of production facilities and to purchase state-of-the-art machinery to increase its production scale and efficiency.
It will be up for subscription from 27 June whilst the official opening date is 7 July.
Joint managers to the offer are Acuity Partners and CT Capital whilst registrars to the issue is SSP Corporate Services.
Textured Jersey Lanka, a joint venture between Pacific Textured Jersey Holdings Limited, a fully owned subsidiary of the Hong Kong listed Pacific Textiles Holdings Limited, and Sri Lanka’s Brandix Lanka Limited, is the country’s pre-eminent producer of value-added knitted fabric, which specialiszes in the manufacture of high quality, weft-knitted and dyed stretch fabrics.
Both Pacific Textiles and Brandix Lanka completed a placement of a total of 116,000,000 shares, which amounts to 17.71% of the company (post-IPO) to certain qualified investors before the IPO as a private sell down in May 2011.
The consideration for the pre-IPO placement was Rs. 15 per share, which is the same price as the IPO share price. Subsequent to the IPO, Pacific Textiles, through its wholly owned subsidiary Pacific Textured Jersey Holdings Limited, and Brandix Lanka, will collectively hold 70.08% of the total issued shares of the company.
With the backing of two strong shareholders, the listing would enable the company to take advantage of potential growth opportunities in both Sri Lanka and the South Asian region, and also provide a separate independent platform to raise funds from capital markets to support its future growth aspirations. The company remains confident in mitigating the challenge posed by the recent volatility in cotton prices, given its ability to pass on these industry generic costs, and with commodity prices also having recently declined.
For the year ended 31 March 2011, the company recorded revenue of US$ 83.2 m (Rs. 9,284.6 m) and a net profit after tax of US$ 6.1 m (Rs. 684.7 m), which represented 15% and 23% YoY growth respectively. The company has a strong financial track record, with five year revenue and net profit CAGRs of 25% and 21% respectively, during a period of multiple challenges for the apparel industry.
The Hong Kong listed Pacific Textiles is a leading manufacturer of customised knitted fabric in the global textile industry, with a focus on complex, value-added fabrics. It has one of the largest textile manufacturing facilities in China, and provides integrated services of knitting, dyeing, printing and finishing.
Brandix has been accredited as Sri Lanka’s single largest apparel exporter. Having pioneered the concept of ‘total solutions’ in Sri Lanka’s apparel sector, Brandix is a preferred solutions provider to some of the world’s leading apparel brands.

source : http://www.ft.lk/2011/06/21/textured-jersey-rs-1-2-b-ipo-up-for-grabs-from-next-week/

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