ICB AMCL Second Mutual Fund today, Islami Insurance Sept 14
Thursday, 10 September 2009
FE Report
Lottery for share allotment of Islami Insurance Bangladesh Limited (IIBL) will be held on September 14 at Bangbandhu International Conference Center at 10:30 am,company sources said.
The IIBI, a general insurance based on Islami Shariah, will be the 42nd insurance company to be listed with the bourses.
It floated 0.9 million ordinary shares worth Tk 90million with face value at Tk 100 a share.
The subscription of the IIBL opened on August 16, 2009 while closed August 20 for resident Bangladeshis and August 29 for non-resident Bangladeshis.
The IIBL, a first general insurance (Takaful) company, was registered and established under the Bangladesh Company Act 1994 and Bangladesh Insurance Act 1938 on December 29, 1999 to transact all sorts of general insurance business.
The company started functioning on January 1, 2000 with 14 member Board of Directors.
The income of IIBL received from other sources and zakat, donation, and all kinds of other income from shareholders, banks, clients, and other persons and institutions from home and abroad are accepted by this foundation and being spent for socio-economic development, service to the distressed humanity.
Meanwhile, lottery for share allotment of the ICB AMCL Second Mutual Fund will be held today (Thursday) at the auditorium of National Sports Council at 10:30 am.
It will be the 19th closed-end mutual fund to be listed with the bourses.
The fund floated 5000000 units with the face value of Tk 100 each to raise Tk 500 million from the stock markets.
Of which, units worth Tk 50 million has been reserved for nonresident Bangladeshi (NRB), Tk 50 million for mutual funds, Tk. 300 million for resident Bangladeshi and Tk 100 million for sponsors.
The objective of the fund is to provide attractive dividend to the unit holders by investing the proceeds in the capital market and money market, according to its prospectus.
Tenure of the closed-end mutual fund is ten-year.
The subscription of the fund opened on August 9, 2009 while closed August 16 for resident Bangladeshis and August 25 for non-resident Bangladeshis.
Lottery for share allotment of Islami Insurance Bangladesh Limited (IIBL) will be held on September 14 at Bangbandhu International Conference Center at 10:30 am,company sources said.
The IIBI, a general insurance based on Islami Shariah, will be the 42nd insurance company to be listed with the bourses.
It floated 0.9 million ordinary shares worth Tk 90million with face value at Tk 100 a share.
The subscription of the IIBL opened on August 16, 2009 while closed August 20 for resident Bangladeshis and August 29 for non-resident Bangladeshis.
The IIBL, a first general insurance (Takaful) company, was registered and established under the Bangladesh Company Act 1994 and Bangladesh Insurance Act 1938 on December 29, 1999 to transact all sorts of general insurance business.
The company started functioning on January 1, 2000 with 14 member Board of Directors.
The income of IIBL received from other sources and zakat, donation, and all kinds of other income from shareholders, banks, clients, and other persons and institutions from home and abroad are accepted by this foundation and being spent for socio-economic development, service to the distressed humanity.
Meanwhile, lottery for share allotment of the ICB AMCL Second Mutual Fund will be held today (Thursday) at the auditorium of National Sports Council at 10:30 am.
It will be the 19th closed-end mutual fund to be listed with the bourses.
The fund floated 5000000 units with the face value of Tk 100 each to raise Tk 500 million from the stock markets.
Of which, units worth Tk 50 million has been reserved for nonresident Bangladeshi (NRB), Tk 50 million for mutual funds, Tk. 300 million for resident Bangladeshi and Tk 100 million for sponsors.
The objective of the fund is to provide attractive dividend to the unit holders by investing the proceeds in the capital market and money market, according to its prospectus.
Tenure of the closed-end mutual fund is ten-year.
The subscription of the fund opened on August 9, 2009 while closed August 16 for resident Bangladeshis and August 25 for non-resident Bangladeshis.