The Bangladesh Securities and Exchange Commission (BSEC) recently approved Kattali Textile Limited’s (KTL’s) initial public offering (IPO) prospectus to raise Tk 34 cr. KTL will offload 34 mn ordinary shares at a fixed price of Tk 10 each. The money will be utilised to purchase capital machinery, repay bank loans, installs an electric transformer and to bear IPO expenses. NRB Equity Management Limited will act as the issue manager for the IPO process.