Summit Group entities to issue preference shares worth $12.50m

A subscription closing ceremony to raise capital through issuance of Preference Shares worth BDT 1,000 million (USD 12.50 million) for Summit Barisal Power Limited & Summit Narayanganj Power Unit II Limited, concerns of Summit Group was held recently at Pan Pacific Sonargaon, Dhaka.

A subscription closing ceremony to raise capital through issuance of preference shares worth BDT 1,000 million (USD 12.50 million) for Summit Barisal Power Limited & Summit Narayanganj Power Unit II Limited was held recently at Pan Pacific Sonargaon, Dhaka, said a statement.

LankaBangla Finance Limited acted as the Mandated Arranger, LankaBangla Investments Limited acted as the Issue Manager and The City Bank Limited acted as the Agent, Account Bank & Custodian Bank to raise the fund.

In the event, Mr. Lt Gen (Retd) Engr. Abdul Wadud, Managing Director of Summit Barisal Power Limited & Summit Narayanganj Power Unit II Limited, Mr. Khwaja Shahriar, Managing Director & CEO of LankaBangla Finance Limited, Mr. Mohammed Nasir Uddin Chowdhury, Managing Director of LankaBangla Capital Market Operations, Mr. Mominul Islam, Managing Director & CEO of IPDC Finance Limited, Mr. R Q M Forkan, Managing Director & CEO of Bangladesh Commerce Bank Limited, Mr. Faruq M. Ahmed, Additional Managing Director of Trust Bank Limited, Mr. Akthar Hamid Khan, Deputy Managing Director of Pubali Bank Limited, Mr. Arif Hasan Khan, Vice President of Modhumoti Bank Limited, Mr. Mohammad Ibrahim Khalil, FCA, Vice President & CFO of Bank Asia Limited and Mr. Mahbub Jamil, Vice President and Head of Structured Finance of The City Bank Limited along with other senior officials from the companies were present.