Dhaka, Bangladesh (BBN): The securities regulator on Tuesday approved the rights offer of First Lease Finance and Investments Limited to raise over BDT 251.5 million.

The approval came at a meeting of the Bangladesh Securities and Exchange Commission (BSEC) with its Chairman M Khairul Hossain in the chair, said a commission’s statement signed by Mohammad Saifur Rahman, executive director of BSEC.

According the commission’s approval, the company will offer 2,51,55,900 shares of BDT 10 each at an offer price to collect over BDT 251.5 million from existing shareholders.

The company will offer 1:3 (one right share for three existing shares) among the existing shareholders of BDT 10 each without premium.

The company will used the rights offer money to meet Bangladesh Bank order for non-bank financial institutions (NBFIs) to double their paid-up capital to BDT 1.0 billion from the existing BDT 500 million.

The approval has been accorded subject to the condition that the Company shall comply with the requirements embodied in the Securities and Exchange Commission (Rights Issue) Rules, 2006 and other relevant laws and Regulatory Requirements, and shall also adhere to the conditions imposed by BSEC under Section-2CC of the Securities and Exchange Ordinance, 1969. – See more at:

BBN/BB/AD/19Jun-13-10.50am (BST).