Staff Reporter: South Bengal Agriculture and Commerce (SBAC) Bank Limited, a fourth generation private bank, has announced a schedule for the submission of initial public offering (IPO) applications and subscriptions. The collection will start from 5th July and will continue till 11th July.
According to SBAC Bank sources, the bank will issue 100 million ordinary shares at a face value of Tk 10 in the IPO. And through this it will collect 100 crore rupees from the capital market. The bank will raise money from the capital market to spend on the purchase of government securities and IPO costs.
South Bengal Agriculture and Commerce Bank, which started its commercial journey in 2013, got the IPO approval on May 9. On the same day, the Bangladesh Securities and Exchange Commission (SEC) gave its approval at its 63rd meeting.
Source: Daily StockBangladesh by www.dailystockbangladesh.com.
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