Prime Bank subscribes Tk 2.0b in preference shares of UMPL

Prime Bank subscribed Tk 2.0 billion in the preference shares issued by United Mymensingh Power Limited (UMPL), one of the concerns of United Group. As part of the group's initiative to explore alternative instruments to support its financing requirement, Prime Bank arranged and subscribed the preference shares. Moinuddin Hasan Rashid, Managing Director, and Hasan Mahmood Raja, Chief Advisor of UMPL, along with Hassan O. Rashid, Managing Director & CEO, and Shams A. Muhaimin, Deputy Managing Director of Prime Bank, were present with other senior officials from both the organisations.
— Statement