BSEC approves rights offer of Golden Harvest

Golden Harvest Agro Industries will raise a capital worth Tk 899.32 million through rights offer for the purpose of business expansion and partial repayment of bank loans.

The BSEC approved the company's proposal of rights offer on Tuesday at a meeting held at the BSEC office.

As per the BSEC approval, the Golden Harvest Agro Industries will issue three rights shares against four existing shares (3R:4) at an offer price of Tk 10 each.

As per the rights offer document for the period ended on September 30, 2018, the company's net asset value (NAV) per share and earnings per share (EPS) are Tk 22.96 and Tk 0.64 respectively.

At Tuesday's meeting, the securities regulator has imposed a penalty of Tk 0.1 million on Dr. Monoar Hossain, a sponsor of the Peoples Leasing and Financial Services (PLFS), for selling a large amount of shares without prior declaration.

According to the BSEC, Mr. Hossain sold above 0.15 million shares of the PLFS held at the PLFS without prior declaration.

Besides, the BSEC decided of freezing the BO account of Mr. Hossain along with delivering the instruction of paying tax for the shares sold without declaration.

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