BSEC allows Global Islami Bank to raise Tk 4.25b through IPO

The stock market regulator has allowed Global Islami Bank to raise Tk 4.25 billion from the capital market, which will be the second largest initial public offering (IPO) in the banking sector. Among all sectors, Global Islami Bank’s IPO is going to be the fifth largest IPO after Robi Axiata (Tk 5.23 billion), Grameenphone (Tk 4.86 billion), MJL Bangladesh (Tk 4.60 billion) and Union Bank (Tk 4.28 billion). The private sector lender will utilize the IPO proceeds for investing in small and medium enterprises (SMEs), buying government securities, investing in listed companies and meeting the IPO expenses. According to the financial statement until September 30, 2021, the bank’s net asset value (NAV) per share (without revaluation) was Tk 14.42 and earnings per share (EPS) of 1.91 while the weighted average EPS for the last five years stood at Tk 1.08. The commission gave a waiver the private commercial bank of the section 6/(1) of public issue rules-2015 and allowed 25 per cent IPO share reserve for non-resident Bangladeshi as per instruction of Bangladesh Bank and parliamentary standing committee on the Ministry of Expatriates’ Welfare & Overseas Employment, upon application of Global Islami Bank.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/bsec-allows-global-islami-bank-to-raise-tk-425b-through-ipo-1655314189

Indonesia shares JV investment proposals of $1.3B in Bangladesh’s energy sector

Indonesia has shared some new proposals of large joint-venture (JV) investment, approximately to the tune of $1.3 billion, in the energy sector of Bangladesh. If materialised, this would add significant economic substance to the bilateral relations with Bangladesh and help strengthen it further.

Source: https://www.tbsnews.net/bangladesh/energy/indonesia-shares-jv-investment-proposals-13b-bangladeshs-energy-sector-440322

BRAC Bank offers benefits for BracU students

Brac Bank has signed a partnership agreement with Brac University to provide preferential benefits of Agami, a complete range of student banking services, on the university campus in Dhaka on June 9. This agreement will enable Brac University students to enjoy several benefits of the Agami proposition, including financing for their educational expenses with an Agami personal loan, an Agami savers account, a convenient student file service, and study abroad CC for the purpose of overseas studies.

Source: https://www.newagebd.net/article/173405/brac-bank-offers-benefits-for-bracu-students