Dhaka, Bangladesh (BBN)- The Initial Public Offering (IPO) lottery draw of Janata Bank First Mutual Fund (JBFMF) will be held on Sunday at the National Sports Council Auditorium in the capital Dhaka.
The draw will be held at 10.30 am (local time) and the schedule of distributing refund warrants will be announced later, officials confirmed.
The size of JBFMF is BDT 2.0 billion. Of its total size the state-run Janata Bank limited will subscribe units worth BDT 500 million as the sponsor, while of the rest BDT 1.0 billion will be kept for IPO and BDT 500 million for pre-IPO or private placement and other mutual funds.
The face value of the units of JBFMF is of BDT 10 and a market will contain 500 units.
BBN/SI/AD-29Aug10-1:05 am (BST)