Debut trading of Phoenix Finance tomorrow

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FE Report
The debut trading of Trust Bank shares is likely begin on both Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) October 1 next.
The DSE board in a meeting Tuesday fixed the tentative date for the debut trading of the newly listed banking issue, a source of the country's prime bourse told the FE.
"We will invite the chief of army staff General Moeen U Ahmed, who is also the chairman of the board of directors of Trust Bank Ltd, to be present as chief guest on the occasion. That is why we have not finalised the debut trading date," the DSE source said.
The source said the DSE board meeting also decided that Phoenix Finance and Investments Ltd, a non-banking financial institution (NBFI), will be traded from tomorrow (Thursday).
The Trust Bank floated a total of 4,666,700 shares worth Tk 700 million. The subscription ended July 28 last.
The offer price of per share of the banking issue was Tk 150 with a premium of Tk 50 each.
The Trust Bank IPO was oversubscribed by about 11 times.
With the listing of the Trust Bank, only one private commercial bank (PCB) -- First Security Bank - now remains a non-listed bank.
The First Security Bank will hopefully go public by the end of June, 2008.
Apart from the Trust Bank, three other PCBs -- BRAC Bank Ltd, Shahjalal Islami Bank and Premier Bank Ltd -- also made their debut on the stock market this year.
On the other hand, Phoenix Finance will be the 16th listed NBFI on DSE and CSE.
The already listed NBFIs are IDLC, United Leasing, Uttara Finance, MIDAS Financing, First Lease International, People's Leasing, Prime Finance and Investment, Premier Leasing, Islamic Finance and Investment, LankaBangla Finance, Bangladesh Industrial Finance, IPDC, Union Capital, Bangladesh Finance Investment Co Ltd and International Leasing.