Pubali Bank will raise a capital worth Tk 5.0 billion issuing perpetual bond to strengthen its additional Tier-I capital base.
The Bangladesh Securities and Exchange Commission (BSEC) on Tuesday approved the bank's proposal of issuing bond at a meeting held at the BSEC office.
As per the regulatory approval, Tk 4.5 billion out of Tk 5.0 billion will be raised through private placements while the remaining Tk 500 million will be raised through public offer.
The offer price of the units of the Pubali Bank's perpetual bond is Tk 5,000.
Safiul Alam Khan Chowdhury, managing director at Pubali Bank, said the subscription of their perpetual bond is likely to be completed within short span of time because of the bank's good reputation.
Green Delta Capital is working trustee of the bond, while City Bank Resources is the arranger and issue manager. And UCB Investment is the underwriter of the bond.
Pubali Bank, presently an 'A' category company, was listed on the stock exchange in 1984.
The company's sponsor-directors hold 31.50 per cent shares, institutes 26.76 per cent, foreigners 0.24 per cent and general public 41.50 per cent as on October 31, 2021.
The company's share price closed at Tk 27 each on Tuesday with a rise of 1.48 per cent or Tk 0.4.
© 2024 - All Rights with The Financial Express
