SEC approves two more mutual funds

The Securities and Exchange Commission (SEC) approved Sunday two mutual funds worth Tk 3.2 billion. They are Trust Bank First Mutual Fund and DBH First Mutual Fund. The total size of the former is Tk 2.0 billion and the latter's Tk 1.2 billion. Trust Bank will raise Tk 400 million through initial public offering (IPO), Tk 1.2 billion through pre-IPO placement and Tk 400 million from sponsors. DBH will raise Tk 400 million through IPO, Tk 600 million through pre-IPO placement and Tk 200 million from sponsors. —FE Report