News Briefs-(11-9-2018)

Indo-Bangla Pharma’s IPO lottery draw today

The initial public offering (IPO) lottery draw of Indo-Bangla Pharmaceuticals will be held at the Auditorium of the Institution of Engineers, Bangladesh (IEB) in Dhaka at 10:30 am today (Tuesday). The results will be published on the websites of Dhaka and Chittagong stock exchanges, issue managers and the company, officials said. The company raised a fund worth Tk 200 million by issuing 20 million ordinary shares at an offer price of Tk 10 each under the fixed price method. According to Chittagong Stock Exchange (CSE) website, the company's IPO is oversubscribed by more than 34 times as it received about Tk 6.85 billion against public issue of Tk 200 million.

— FE Report

NCR rates Rupali Bank 'AAA'

National Credit Ratings Limited (NCR) has announced the surveillance rating of Rupali Bank Limited as "AAA" in the long term and "ST-1" for short term as the government supported entity and "A-" in the long term and "ST-3" for short term as standalone basis, based on audited financials of the company as on December 31, 2017. — DSE Online