SEC approves Popular MF, rights of Maksons
Friday, 18 June 2010
FE Report
The Securities and Exchange Commission (SEC) has approved rights offer of Maksons Spinning Mills Limited and trust deed of a mutual fund of Tk 2.0 billion. The approval was given at the commission meeting Thursday with its chairman Ziaul Haque Khondker in the chair.
Maksons will offer two rights shares for one existing share to raise its paid-up capital. It will issue 104,880,000 ordinary shares of Tk 10.00 each at an issue price of Tk 25.00 per share (including a premium of Tk 15.00 each) to raise Tk 2.63 billion from the market.
The record date for entitlement of rights share, the period of subscription and the list of bankers to the issue, will be announced within three working days, the company said.
Popular Life First Mutual Fund of Tk 2.0 billion will be floated with per unit price at Tk 10.
Race Asset Management Company will act as fund manager.
The Securities and Exchange Commission (SEC) has approved rights offer of Maksons Spinning Mills Limited and trust deed of a mutual fund of Tk 2.0 billion. The approval was given at the commission meeting Thursday with its chairman Ziaul Haque Khondker in the chair.
Maksons will offer two rights shares for one existing share to raise its paid-up capital. It will issue 104,880,000 ordinary shares of Tk 10.00 each at an issue price of Tk 25.00 per share (including a premium of Tk 15.00 each) to raise Tk 2.63 billion from the market.
The record date for entitlement of rights share, the period of subscription and the list of bankers to the issue, will be announced within three working days, the company said.
Popular Life First Mutual Fund of Tk 2.0 billion will be floated with per unit price at Tk 10.
Race Asset Management Company will act as fund manager.