Dhaka, Bangladesh (BBN): The securities regulator Thursday lifted suspension from public subscription of the Appollo Ispat Complex providing a clean sheet to raise a fund worth BDT 2.20 billion through public offering, officials said.

The decision was taken at a commission meeting chaired by the Bangladesh Securities and Exchange Commission (BSEC) Chairman Professor M Khairul Hossain.

The company will offload 100 million ordinary shares at an offer price of Tk 22, including a premium of BDT 12 for each ten taka share.

The regulator earlier imposed suspension on the company’s public subscription. Afterwards the company transferred some shares of directors in favor of other shareholders to resolve their claims following the court’s order.

BBN/BB/AD/22Aug-13-5.35pm (BST).