The Bangladesh Securities and Exchange Commission on Wednesday approved initial public offering of Shahjibazar Power Company Ltd with an offer price of Tk 25 each share including a premium Tk 15. The decision was taken at a regular commission meeting presided over by the BSEC chairman, M Khairul Hossain. A BSEC news release said Shahjibazar Power would issue 1.26 crore shares to raise Tk 31.70 crore to repay its bank loans.
According to the company’s audited financial statement of March 31, 2013, the earning per share was Tk 2.58 and the net asset value was Tk 24.58.
The BSEC at the meeting also approved rights share offer of BRAC Bank Ltd at a rate of one rights share against
two existing shares.
The price of the rights share is Tk 20 including a premium of Tk 10.
BRAC Bank will raise Tk 443.30 crore by issuing the rights shares. The fund will be spent for strengthening its capital base.
The BSEC at Wednesday’s meeting approved the name changing of First Agrani Bank Mutual Fund to ICB MCL First Agrani Bank Mutual Fund following an application submitted by the asset management company.
-With New Age input
