Marico subsidiary plans IPO in Bangladesh

Marico Ltd. announced that Marico Bangladesh Ltd. (MBL), a wholly owned subsidiary of the company, has received the approval of the Bangladesh Securities & Exchange Commission (SEC) to its proposal for making an Initial Public Offer (IPO) in Bangladesh. The IPO is scheduled to open in August 2009 and will offer 14,92,100 ordinary shares of Taka 10 each at an issue price of Taka 90 per share (including premium of Taka 80 each). The shares of MBL would be listed in Bangladesh on the Dhaka Stock Exchange and the Chittagong Stock Exchange.