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Standard Bank to issue perpetual bond worth Tk 5.0 billion

FE Report | November 20, 2019 00:00:00

Standard Bank will raise a capital worth Tk 5.0 billion through issuance of perpetual bond as additional tier-I capital.

The company's board of director has taken the decision of raising capital through the bond, according to a disclosure.

The company will raise the capital to strengthen its capital base along with supporting the business growth subject to approval from the concerned regulators.

Standard Bank, presently an 'A' category company, was listed on the stock exchanges in 2003.

The company's sponsor-directors hold 39.63 per cent shares, institutions 21.96 per cent, foreigners 1.26 per cent and general public 37.15 per cent as of October 31, 2019.

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