Dhaka, Bangladesh (BBN) - The securities regulator has approved the rights offer of two companies and an initial public offering (IPO) of a power company, officials said.
The approvals came at a commission meeting, chaired by the Securities and Exchange Commission (SEC) Chairman Professor M Khairul Hossain on Tuesday.
As per the SEC’s approval, Tallu Spinning Mills will offer two right shares against one existing share (2R:1) at an offer price of BDT 10, without taking any premium.
Another company---Information Services Network (ISN)--- will offer one right share against one existing share (1R:1) at an offer price of BDT 10, without taking any premium.
The SEC has also approved the IPO proposal of Summit Purbanchol Power, which will offload 30 million ordinary shares at an offer price of BDT 45, including a premium of BDT 35 for each share of ten taka.
The company will raise a fund worth BDT 1.35 billion through this IPO to reedmen the preference shares of above BDT 1.29 billion.
Prime Finance Capital Management has been appointed as the issue manager of the company.
BBN/SSR/AD-24Apr12-11:20 pm (BST)
