The Bangladesh Securities and Exchange Commission on Tuesday allowed First Lease Finance and Investment Limited, a non-bank financial institution, to raise Tk 25.15 crore
through issuing right shares to its shareholders.
The capital market regulator approved the rights offer of the company in a regular commission meeting presided over by BSEC chairman M Khairul Hossain, a BSEC news release said.
As per the BSEC approval, the shareholders of First Lease Finance will get one right share against the existing three shares at face value of Tk 10.
Through the process the company will offload 2.51 crore shares to the public to comply with the Bangladesh Bank’s order which directed all the NBFIs to
increase their paid-up capital to Tk 100 crore in 2011.
Banco Finance and Investment Limited is the issue manager of First Lease Finance and Investments.
The BSEC in the meeting also fined all the directors of three companies which are under the over the counter market as they failed to submit their audited financial reports in time.
The companies are Bangladesh Electricity Meter Company Limited, Saleh Carpet Mills Limited and Metalex Corporation Limited.
All the directors of Bangladesh Electricity Meter Company were fined Tk 2 lakh each as the company failed to submit its audited financial reports of 2010 and 2011.
The directors of the other two companies were fined Tk 1 lakh each.
-With New Age input
