DSE approves Trust Bank listing
Tuesday, 25 September 2007
FE Report
The Dhaka Stock Exchange (DSE) Monday gave preliminary approval for enlistment of Trust Bank Ltd.
"The DSE board will sit today (Tuesday) to give full approval to the listing of the bank and announce the debut trading date for the new issue," a DSE source told the FE.
The source said the Trust Bank and Phoenix Finance and Investments Ltd, a non-banking financial institution, are expected to start trading from Thursday on both the stock exchanges.
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.
The Dhaka Stock Exchange (DSE) Monday gave preliminary approval for enlistment of Trust Bank Ltd.
"The DSE board will sit today (Tuesday) to give full approval to the listing of the bank and announce the debut trading date for the new issue," a DSE source told the FE.
The source said the Trust Bank and Phoenix Finance and Investments Ltd, a non-banking financial institution, are expected to start trading from Thursday on both the stock exchanges.
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.