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PBIL becomes issue manager for Union Bank IPO

Published : Tuesday, 21 September, 2021 at 12:00 AM  Count : 163
Business Desk

The Bangladesh Securities and Exchange Commission (BSEC) has approved the proposal of Union Bank Ltd for issuance of Initial Public Offerings (IPO) of BDT 428 crore under fixed price method.
The Prime Bank Investment Ltd (PBIL) is the manager to the issue of this largest IPO, says a press release.
It is the largest IPO in terms of size among the banks and the 4th highest in the capital market of Bangladesh.
Beside that, the PBIL is working as the lead-arranger for the Islami Bank Bangladesh Ltd 2nd Mudaraba Perpetual Bond of BDT 800 crore where BDT 720 crore will be raised under Private Placement and the rest BDT 80 crore will be under public offer.
Also, the PBIL is the lead arranger of Al-Arafah Islami Bank Mudaraba perpetual bond of BDT 500 crore where BDT 450 crore will be raised under Private Placement and the rest BDT 50 crore will be under public offer.
Recently, the PBIL signed an agreement with Vantage Hi-Tech Limited to act as the manager to Issue for Qualified Investor Offer (QIO) under SME platform.

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