BSEC approves prospectus of SEML IBBL Shariah Fund

The securities' regulator has approved the prospectus of SEML IBBL Shariah Fund, a closed-end mutual fund.

The size of SEML IBBL Shariah Fund will be Tk 1.0 billion and the offer price of the units of the mutual fund will be Tk 10 each.

Of Tk 1.0 billion, Tk 500 million and Tk 250 million have already been collected from the sponsors and pre-IPO placement holders respectively.

The remaining fund worth Tk 250 million will be collected by floating IPO (initial public offering).

Islami Bank is the sponsor of the SEML IBBL Shariah Fund, whereas Strategic Equity Management Limited is the fund manager.

Investment Corporation of Bangladesh (ICB) is working as trustee and custodian of the SEML IBBL Shariah Fund.

FE Report

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