Dhaka, Bangladesh (BBN)- The Board of Directors of Bank Asia has decided to issue Non-Convertible Subordinated Bond with an issue price of BDT 3.0 billion to raise capital of the Bank, said a company disclosure on Monday.
“Resolved that the proposal to issue Bank Asia 7 Year Floating Rate (11.50% to 14.50%) Non-Convertible Subordinated Bond with an issue price of BDT 3.0 billion to raise capital of the Bank, subject to the approval of Bangladesh Bank, Bangladesh Securities & Exchange Commission and the general shareholders of the Bank in the extraordinary general meeting (EGM),” said a company’s statement posted on the Dhaka Stock Exchange (DSE) website on Monday.
It is hereby approved, provided that any changes in the feature of the Bond, tenor, issue size or whatever as deemed necessary by any regulatory advice or otherwise may be decided by the Board of Directors of the Company, said the statement.
The EGM will be held on June 26 at 10.30am at the Institute of Diploma Engineers Bangladesh, Council Hall (2nd Floor), 160/A Kakrail, Dhaka-1000. Record Date for EGM is May 29, 2014.
BBN/SSR/AD-19May14-12:53 pm (BST)