The securities regulator Tuesday approved the proposals of rights offer of the Midas Financing and the Non-Convertible Subordinate Bond of AB Bank, officials said.
The approvals came at a commission meeting chaired by the Bangladesh Securities and Exchange Commission (BSEC) Chairman Professor M Khairul Hossain, said the BSEC Executive Director Mohammad Saifur Rahman.
As per the regulatory approval, the Midas Financing will issue one rights share against one exiting share at an offer price of ten taka in a bid to raise a fund worth above Tk 601.34 million
The objective behind issuance of the rights shares by the Midas Financing is to strengthen its capital base as per the requirement set by the Bangladesh Bank.
The fund will also be used in lease finance, term finance, SME finance and house loan finance etc.
LankaBangla Investments and CAMP Advisory are working issue managers to the rights issue of the Midas Financing.
At Tuesday's meeting, the securities regulator has also approved the proposal of issuing Tk 2.5 billion Non-Convertible Subordinate-Bond to be issued by the AB Bank.
The Non-Convertible Subordinate-Bond's tenure is seven years.
Only the institutional investors will be eligible to receive the bonds through private placements.
The face value of the bonds is of Tk 10.00 million.
Rights offer of Midas Financing approved
FE Report | Published: July 02, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
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