NHFIL gets SEC nod to raise IPO
FE Report | Wednesday, 6 August 2008
The Securities and Exchange Commission (SEC) Tuesday gave approval to the National Housing Finance and Investment Limited (NHFIL) to raise Tk 50 million through initial public offering (IPO).
The approval came at the commission's meeting held Tuesday.
The NHFIL, a private sector housing finance company, which began its operation in 1999, will issue 0.5 million shares with the face value of Tk 100 per share.
The Net Asset Value (NAV) of the non-banking financial institutions is Tk 131.98 and Earning Per Share (EPS) is Tk 15.82. The existing paid-up capital of the bank is Tk 470 million.
The bank's credit rating for long term is 'A' and for short term, ST-3.
As per securities rules, after getting approval the prospectus will have to be published within 25 days.
The SEC also gave nod to the Mutual Trust Bank for issuing one rights share against every five shares at Tk 100 to raise its paid-up capital.
The approval came at the commission's meeting held Tuesday.
The NHFIL, a private sector housing finance company, which began its operation in 1999, will issue 0.5 million shares with the face value of Tk 100 per share.
The Net Asset Value (NAV) of the non-banking financial institutions is Tk 131.98 and Earning Per Share (EPS) is Tk 15.82. The existing paid-up capital of the bank is Tk 470 million.
The bank's credit rating for long term is 'A' and for short term, ST-3.
As per securities rules, after getting approval the prospectus will have to be published within 25 days.
The SEC also gave nod to the Mutual Trust Bank for issuing one rights share against every five shares at Tk 100 to raise its paid-up capital.