FE Report (October 08, 2010)
The Securities and Exchange Commission (SEC) has approved the rights offer of First Security Islami Bank and Fu-Wang Ceramics.
The commission has also approved the proposal of repeat public offering (RPO), applied by the BRAC Bank Limited.
The approvals came at the commission meeting held Thursday with its Chairman Ziaul Haque Khondker in the chair.
As per the SEC's nod, the First Security Islami Bank will offer one rights share against five existing shares to increase the bank's paid-up capital in line with the condition set by the central bank (Bangladesh Bank).
The company will collect Tk 506 million by offering rights shares at an issue price of Tk 10, without taking any premium.
The Fu-Wang Ceramics will offer one rights share of Tk 100 against two existing shares at an offer price of Tk 125, including a premium of Tk 25. The company will collect Tk 206.2 million by offering the rights shares.
SEC Executive Director Anwarul Kabir Bhuiyan said Fu-Wang Ceramics will raise the fund by offering rights shares to extend its business and pay loans of Dhaka Bank.
The BRAC Bank will raise funds worth Tk 3.0 billion from the stock market by offering 25 per cent convertible bonds. The company will collect Tk 2.7 billion under private placement and the remaining amount will be raised through RPO. The offer price of the bonds will be Tk 1,000.
The Securities and Exchange Commission (SEC) has approved the rights offer of First Security Islami Bank and Fu-Wang Ceramics.
The commission has also approved the proposal of repeat public offering (RPO), applied by the BRAC Bank Limited.
The approvals came at the commission meeting held Thursday with its Chairman Ziaul Haque Khondker in the chair.
As per the SEC's nod, the First Security Islami Bank will offer one rights share against five existing shares to increase the bank's paid-up capital in line with the condition set by the central bank (Bangladesh Bank).
The company will collect Tk 506 million by offering rights shares at an issue price of Tk 10, without taking any premium.
The Fu-Wang Ceramics will offer one rights share of Tk 100 against two existing shares at an offer price of Tk 125, including a premium of Tk 25. The company will collect Tk 206.2 million by offering the rights shares.
SEC Executive Director Anwarul Kabir Bhuiyan said Fu-Wang Ceramics will raise the fund by offering rights shares to extend its business and pay loans of Dhaka Bank.
The BRAC Bank will raise funds worth Tk 3.0 billion from the stock market by offering 25 per cent convertible bonds. The company will collect Tk 2.7 billion under private placement and the remaining amount will be raised through RPO. The offer price of the bonds will be Tk 1,000.
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