UCB Investment announces closure of Fair Electronics preference share

The UCB Investment Limited has announced the successful closure of Fair Electronics preference share worth Tk 2,000 million at a ceremony held at a city hotel recently, says a press release.

The UCB Investment is the mandated lead arranger and agent of the issuance of the shares.

Fair Electronics Limited, the manufacturer and one of the distributors of Samsung Electronics in Bangladesh, has recently raised Tk 2,000 million from six banks through issuing non-convertible, cumulative and redeemable preference shares to maintain sustainable business growth.

Preference share is an alternative financing instrument through which the issuer is able to fix a rate for a longer tenure as well as to provide lucrative after-tax return to the investors. Mostly blue-chip companies issue such instruments.

Ruhul Alam Al Mahbub, Chairman & Managing Director, Fair Electronics Limited, Arif Quadri, Managing Director & CEO, United Commercial Bank Limited, Tanzim Alamgir, Managing Director & CEO, UCB Investment Limited, Md Ahsan-uz Zaman, Managing Director & CEO, Midland Bank Limited, Golam Awlia, Managing Director & CEO, NRB Commercial Bank Limited, Md. Monzur Mofiz, Managing Director, ONE Bank Limited, Md Khalid Mahmood Khan, Deputy Managing Director, Mutual Trust Bank Limited, and Muhammad Nurul Afsar, SVP & Chief Financial Officer, NRB Bank Limited, were present at the event.

UCB Investment Ltd., one of the leading and fast-growing merchant banks in the country, had a tremendous year despite the unprecedented COVID-19 outbreak and economic slowdown. With its best-in-class team of professionals, the company within a short span of time has established footprints in every sphere of investment banking.