Phoenix Finance First Mutual Fund makes debut Sunday
Wednesday, 5 May 2010
FE Report
Phoenix Finance First Mutual Fund, a closed-end fund of 10 years tenure, will make debut in the stock market Sunday.
The Dhaka Stock Exchange in its board meeting held Tuesday gave nod to begin the trade of the mutual fund.
The mutual fund worth Tk 600 million will be the 24th such fund listed with the prime bourse.
Per unit price of the fund is Tk 10 and market lot 500 units. Thirty per cent of the fund has been reserved for public, 20 per cent for sponsors and the rest 10 per cent for pre-IPO placement.
Phoenix Finance and Investments Limited (PFIL), a leading non-banking financial institution, is the sponsor while ICB Asset Management Company Limited is the issue manager.
Subscription was opened on March 7 and closed on March 11 for resident Bangladeshis and on March 20 for non-resident Bangladeshis.
Currently, there are 23 listed mutual funds with the DSE, having a total issued paid-up capital of Tk 9766 million and market capitalisation of Tk 27484 million, which is 2.03 per cent of the total market capitalization of DSE.
Phoenix Finance First Mutual Fund, a closed-end fund of 10 years tenure, will make debut in the stock market Sunday.
The Dhaka Stock Exchange in its board meeting held Tuesday gave nod to begin the trade of the mutual fund.
The mutual fund worth Tk 600 million will be the 24th such fund listed with the prime bourse.
Per unit price of the fund is Tk 10 and market lot 500 units. Thirty per cent of the fund has been reserved for public, 20 per cent for sponsors and the rest 10 per cent for pre-IPO placement.
Phoenix Finance and Investments Limited (PFIL), a leading non-banking financial institution, is the sponsor while ICB Asset Management Company Limited is the issue manager.
Subscription was opened on March 7 and closed on March 11 for resident Bangladeshis and on March 20 for non-resident Bangladeshis.
Currently, there are 23 listed mutual funds with the DSE, having a total issued paid-up capital of Tk 9766 million and market capitalisation of Tk 27484 million, which is 2.03 per cent of the total market capitalization of DSE.