Dhaka, Bangladesh (BBN)– Premier Bank Limited decided to increase paid-up and authorised capital of Premier Bank Securities, a 99.99 per cent owned subsidiary Company of the Bank, said an official disclosure on Monday.
The bank will increase paid-up capital of Premier Bank Securities from BDT 500 million to BDT 1.0 billion, subject to approval of Bangladesh Bank, Bangladesh Securities and Exchange Commission and other regulatory authorities, which is within the limit of authorized capital by converting bank’s loan in to paid-up capital of Premier Bank Securities, said the disclosure.
The bank also decided to further increase authorized capital of the Premier Bank Securities from Tk 1.0 billion to Tk 3.0 billion in the second phase and to increase paid-up capital from Tk 1.0 billion to Tk 2.50 billion in the third phase, said the disclosure.
Premier Bank was listed on the Dhaka bourse in 2007. Sunday’s closing price of each Premier Bank share was BDT 6.80.