Dhaka, Bangladesh (BBN) – Bangladesh Securities and Exchange Commission (BSEC) on Thursday approved bond issue proposals of Trust Bank and ONE worth BDT 4.0 billion each, officials said.
The approvals came at a meeting held at the BSEC office in the capital Dhaka chaired by BSEC chairman Prof. Dr. M Khairul Hossain.
Trust Bank: As per another BSEC approval, the Trust Bank will issue non-convertible subordinated bond of BDT 4.0 billion at a price of BDT 10 million per unit. The units will be issued to institutional investors, corporate bodies, insurance companies, fund managers and any other eligible investors.
The private commercial bank (PCB) will fulfill the condition of Tier-II Capital Base through the bond issue.
The bank was listed on the Dhaka bourse in 2007. The bank belongs to the “A” category.
The sponsor-directors own 60 percent stake in the Trust Bank, while institutional investors own 20.80 percent, foreign investors 0.81 percent and the general public 18.39 percent as on May 31, 2016.
The bank’s paid-up capital is BDT 10,000 million and authorised capital is BDT 5,063.33 million, while total number of securities is 506,332,924, according to statistics from the DSE.
The bank’s share closed at BDT 18 on Thursday.
ONE Bank: as per the BSEC approval, ONE Bank will issue non-convertible subordinated bond worth BDT 4.0 billion at a price of BDT 1.0 per unit. The tenure of the bond will be seven years. The characteristics of the One Bank’s bond will be non-convertible, unlisted, fully redeemable, floating rated and subordinated.
As per the regulatory approval, the One Bank will issue the units of the bond to institutional investors and high net worth individuals through private placements.
The bank was listed on the Dhaka bourse in 2003. The bank belongs to the “A” category.
The sponsor-directors own 30.36 percent stake in the ONE Bank, while institutional investors own 19.91 percent, foreign investors 0.18 percent and the general public 49.55 percent as on May 31, 2016.
The bank’s paid-up capital is BDT 10,000 million and authorised capital is BDT 6,636.66 million, while total number of securities is 663,665,528, according to statistics from the DSE.
Each share of the bank closed at BDT 12.40 on Thursday.