Dhaka, Bangladesh (BBN): Trading of the shares of Fareast Finance & Investment Ltd — a newly listed company will commence from today (Tuesday) at the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) under ‘N’ category, officials said.
DSE Trading Code for Fareast Finance & Investment Limited is ‘FAREASTFIN’ and DSE Company Code # 28023.
The Fareast Finance & Investments is the 23rd listed company in the ‘Financial Institutions’ sector in the prime bourse while it is the 22nd listed company in the ‘Leasing and Finance’ sector in port city bourse.
The company raised BDT 450 million, floating 45 million ordinary shares with an offer price of BDT 10 each without premium. A market lot is 500 shares.
The public subscription of Fareast Finance & Investment was held on July 14 to 18 for resident Bangladeshis and July 27 for non-resident Bangladeshis.
The IPO lottery of the company was held on 14 August. The company witnessed 17 times higher subscription against its demand offer.
The Grameen Capital Management acted as the issue manager of the Fareast Finance & Investments’ IPO.
Earlier on May 30, this year, the Bangladesh Securities and Exchange Commission (BSEC) approved the IPO proposal of Fareast Finance & Investment Ltd.
BBN/BB/AD/17-Sep-13-10.50am (BST).
