Dhaka, Bangladesh (BBN)-Bangladesh’s stocks market regulator on Tuesday approved rights offer proposal of Investment Corporation of Bangladesh (ICB) and Non Convertible Zero Coupon Bond of LankaBangla Finance.
As per the regulatory approval, the ICB will issue one rights share against two existing shares (1R:2) at an offer price of BDT 500, including a premium of BDT 400 for each BDT 100 share.
The state-run company will raise a fund worth above Tk 10.54 billion by issuing above 21 million ordinary shares.
The ICB will invest the fund in primary and secondary market along with the repayment of the bank loans.
The securities regulator approved the Non Convertible Zero Coupon Bond of LankaBangla Finance to raise BDT 3.0 billion with tenure of six months to three years.
The institutional investors will able to buy through private placement of this bond.
The BSEC also allowed the listed company Active Fine Chemicals (AFC) to raise a capital worth BDT 1.2 billion by issuing shares among the existing shareholders and institutional investors.
As per the BSEC approval, the AFC will issue the shares at an offer price of BDT 60, including a premium of BDT 50 for each ten taka share.
The securities regulator also decided to collect public money for the IPO shares through the brokerage firms from September, 2014 to introduce the proposed IPO process.
BBN/BB/ANS-12Aug14-8:00pm (BST)