The Securities and Exchange Commission
(SEC) has approved the initial public offerings (IPOs) applications of
four companies to raise a total of Tk 53.2 crore from the capital
market.
The companies, which got approval from the SEC, are the Industrial Promotion and Development Company (IPDC) of Bangladesh, LankaBangla Finance Ltd, Bangladesh Industrial Finance Company Limited (BIFC) and Prime Islamic Life Insurance Ltd.
The approval came at a meeting of the capital market watchdog in Dhaka yesterday.
The IPDC will raise Tk 27.80 crore including a premium of Tk 13.90 crore while the LankaBangla will raise Tk 9 crore, BIFC Tk 11.90 crore and Prime Islamic Life Insurance Tk 4.50 crore.
The IPDC will float 13.90 lakh shares of Tk 100 each with a premium of Tk 100 to raise the amount while LankaBangla, BIFC and Prime will float 9 lakh, 11.90 lakh and 4.50 lakh shares of Tk 100 each respectively to raise their amount.
However, the SEC is yet to announce the subscription date for the IPOs. "We will announce the subscription date very soon," said an executive of the commission.
Meanwhile, the SEC at the meeting also introduced a new category for newly listed companies in stock exchanges.
The regulatory body approved the introduction of 'N category' following a proposal placed by the consultative committee of the SEC.
"The new category will help investors to track the newly listed companies easily," said Mansur Alam, executive director of SEC.
He, however, said the trading of a newly listed company under N category will be only for a initial period. "The up gradation and degradation of the shares will be adjusted under the existing rules," he added.
source:.bizbangladesh
The companies, which got approval from the SEC, are the Industrial Promotion and Development Company (IPDC) of Bangladesh, LankaBangla Finance Ltd, Bangladesh Industrial Finance Company Limited (BIFC) and Prime Islamic Life Insurance Ltd.
The approval came at a meeting of the capital market watchdog in Dhaka yesterday.
The IPDC will raise Tk 27.80 crore including a premium of Tk 13.90 crore while the LankaBangla will raise Tk 9 crore, BIFC Tk 11.90 crore and Prime Islamic Life Insurance Tk 4.50 crore.
The IPDC will float 13.90 lakh shares of Tk 100 each with a premium of Tk 100 to raise the amount while LankaBangla, BIFC and Prime will float 9 lakh, 11.90 lakh and 4.50 lakh shares of Tk 100 each respectively to raise their amount.
However, the SEC is yet to announce the subscription date for the IPOs. "We will announce the subscription date very soon," said an executive of the commission.
Meanwhile, the SEC at the meeting also introduced a new category for newly listed companies in stock exchanges.
The regulatory body approved the introduction of 'N category' following a proposal placed by the consultative committee of the SEC.
"The new category will help investors to track the newly listed companies easily," said Mansur Alam, executive director of SEC.
He, however, said the trading of a newly listed company under N category will be only for a initial period. "The up gradation and degradation of the shares will be adjusted under the existing rules," he added.
source:.bizbangladesh
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