The subscription was opened on November 10 and closed on November 15. Subscription for non-resident Bangladeshi (NRB) applicants will remain open till November 24.

"We are yet to get the complete figures as subscription for NRBs is still open but so far we have the clear indication that the deposited amount will be about Tk 35 crore," an official of Equity Partners Ltd, co-manager of the issue, said yesterday.

He said lottery of the subscription will be held after Eid-ul-Fitr. As slab system will be applied in the lottery all IPO applicants are likely to get at least one lot.

The shares of country's lone integrated dry process cement plant will be placed in G-category. The company is expected to go into operation in 2006.

G-category shares are allotted for trading in the bourses after getting listed by green-field public limited companies. Apart from A, B and Z, the G-category system was introduced two years back.

Lafarge Surma Cement issued 89.39 lakh ordinary shares of Tk 100 each to collect Tk 89.39 crore. A total of Tk 74.39 crore was raised under pre-IPO placement with 74.39 lakh shares while 15 lakh shares were offered for general public to raise Tk 15 crore.

Swadesh Investment Management Ltd is the issue manager and Equity Partners Ltd is co-manager.

Lafarge factory is located at Chhatak of Sunamganj. This large-scale cross-border project having its own quarry in Meghalaya of India will transport limestone and shale to the cement plant through a 17-km conveyor belt.

The plant will manufacture high quality clinker to produce 1.2 million tonnes of cement per year. Lafarge of France, the world's largest cement producer and Cementos Molins, a leading Spanish cement group, are the majority shareholders of this project.