The Bangladesh Securities and Exchange Commission on Wednesday approved the rights share offer of Bangladesh Finance and Investment Company Limited at face value of Tk 10.
The capital market regulator issued the approval in a regular commission meeting presided over by its chairman M Khairul Hossain, a BSEC news release said.
As per the BSEC approval, Bangladesh Finance and Investment Company will issue three rights shares against five existing shares.
Bangladesh Finance and Investment Company will issue 3.90 crore rights shares to its existing shareholders to raise its paid-up capital by Tk 39 crore, the BSEC release said.
The company will utilise the fund to strengthen its financial strength to implement BASEL II as per the Bangladesh Bank’s directive, it said.
The BSEC on the day fined Premier LP Gas Limited, a non-listed company in the stock market, Tk 1 lakh as it increased its paid-up capital for two times without getting consent from the capital market regulator.
The BSEC release said that the Premier LP Gas Limited raised its paid-up capital to Tk 24.98 crore from Tk 9.38 crore for the first time on June 11, 2001 and for the second time on November 28, 2011 without getting approval from the regulator which is a violation of securities rules.
The BSEC on the day also allowed Janata Insurance Company Limited to split face value of each share at Tk 10 from Tk 100, the market lot of the company will be increased to 200 shares from 20 shares.
-With New Age input
