AIBL CML signs IM deal with Rani Rerolling Mills Ltd

The Rani Rerolling Mills Limited (RRM), a leading steel and re-rolling mill of the country has decided to float ordinary shares through IPO to raise capital for financing its diversification and expansion programme, said a press release.

AIBL Capital Management Ltd (AIBL CML) a full-fledged merchant bank and a subsidiary of Al-Arafa Islami Bank Ltd will work as Manager-to-the Issue to manage the IPO.

An Issue Management and Corporate Advisory Service agreement was signed in this regard between the two companies yesterday in the conference room of Al-Arafa Islami Bank Ltd.  

Md Golam Sarwar Bhuiyan, CEO of AIBL CML and Sumon Chowdhury, Managing Director of The Rani Re-rolling Mills Ltd signed the agreement on behalf of their respective organisations.

Badiur Rahman, Chairman, Md Habibur Rahman, Managing Director, Al-Arafah Islami Bank Ltd were also present at the signing ceremony.