The securities regulator will provide all-out cooperation to restore operations in People's Leasing and Financial Services Limited (PLFSL) in consultations with the company's restructured board.
The Bangladesh Securities and Exchange Commission (BSEC) on Tuesday spoke about its decision after a commission meeting held at the BSEC office.
"The BSEC has taken the decision of providing all-out cooperation to restore operations in PLFSL in line with the verdict of the High Court (HC)," the securities regulator said in a release.
It said the securities regulator will work to restore the troubled company's operations taking into account different options of financial restructuring and conducting consultations with the restructured board.
Besides, the securities regulator will appoint auditors to conduct special audits on the company's activities and financial statements prepared since 2013 to 2021.
At Tuesday's meeting, the securities regulator approved the proposal of perpetual bond worth Tk 6.0 billion to be issued by AB Bank.
Of Tk 6.0 billion, Tk 5.4 billion will come from the units to be distributed through private placements and the remaining Tk 600 million will be raised through public offer.
AB Bank will utilise the fund to strengthen its Tier-I capital base.
As per another BSEC approval, NRB Commercial Bank will raise a capital worth Tk 3.0 billion issuing subordinated bond having a tenure of seven years.
The bond will be distributed through private placements to institutional investors and high net worth individuals.
The bank will utilise the fund to strengthen its Tier-II capital base.
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