Dhaka, Bangladesh (BBN) - The Securities and Exchange Commission (SEC) has approved a rights offer of LankaBangla Finance, which will raise BDT 8.235 million from its existing shareholders.
The approval came at a meeting of the stock market regulator on Tuesday with SEC Chairman M Khairul Hossain in the chair.
The non-banking financial institution (NBFI) will issue over 0.823 million ordinary shares of BDT 10 each at par. The joint venture financial institution will offer one rights share for each existing share.
The company, with an existing paid-up capital of BDT 8.235 million, will use the proceedings from the rights offer to strengthen its capital structure in line with Basel II framework.
BBN/SSR/AD-02Feb12-11:36 am (BST)