IFIC Bank 1st Mutual Fund trading begins today
Thursday, 1 April 2010
FE Report
The trading of IFIC Bank 1st Mutual Fund begins today (Thursday) on Dhaka Stock Exchange and the Chittagong Stock Exchange.
IFIC Bank 1st Mutual Fund received the final approval for listing Monday, according to market sources.
IFIC Bank is the pioneer first-generation commercial bank to sponsor a Mutual Fund in Bangladesh.
The size of the fund is Tk. 1.20 billion, of which Tk. 400 million was raised through the IPO process.
A record 1.1 million investors applied with Tk. 7.03 billion, representing an over-subscription of over seventeen times (17.50x), a reflection of the strong demand for Mutual Fund IPOs amongst investors.
The unaudited Net Asset Value per share of IFIC Bank 1st Mutual Fund as of March 25th, 2010 was Tk. 11.65.
This implies a consolidated gain (realized and unrealized) of almost Tk. 200 million.
The ticker symbol of the latest mutual fund is 'IFIC1STMF'. RACE Asset Management will manage the fund while the Investment Corporation of Bangladesh (ICB) is to act as the trustee and custodian.
The trading of IFIC Bank 1st Mutual Fund begins today (Thursday) on Dhaka Stock Exchange and the Chittagong Stock Exchange.
IFIC Bank 1st Mutual Fund received the final approval for listing Monday, according to market sources.
IFIC Bank is the pioneer first-generation commercial bank to sponsor a Mutual Fund in Bangladesh.
The size of the fund is Tk. 1.20 billion, of which Tk. 400 million was raised through the IPO process.
A record 1.1 million investors applied with Tk. 7.03 billion, representing an over-subscription of over seventeen times (17.50x), a reflection of the strong demand for Mutual Fund IPOs amongst investors.
The unaudited Net Asset Value per share of IFIC Bank 1st Mutual Fund as of March 25th, 2010 was Tk. 11.65.
This implies a consolidated gain (realized and unrealized) of almost Tk. 200 million.
The ticker symbol of the latest mutual fund is 'IFIC1STMF'. RACE Asset Management will manage the fund while the Investment Corporation of Bangladesh (ICB) is to act as the trustee and custodian.