The Bangladesh Securities and Exchange Commission has approved the Union Bank Limited's proposal for issuance of an initial public offering (IPO) of Tk428 crore under fixed price method.
The Prime Bank Investment Limited (PBIL) has worked as the issue manager of this IPO.
It is the largest IPO in terms of size among the banks and the fourth largest in Bangladesh's capital market.
Besides, the PBIL is working as the lead-arranger for the Islami Bank Bangladesh Limited 2nd Mudaraba Perpetual Bond of Tk800 crore, where Tk720 crore will be raised under private placement and the rest will be under public offer.
Also, the PBIL is the lead arranger of Al-Arafah Islami Bank Mudaraba Perpetual Bond of Tk500 crore, where Tk450 crore will be raised under private placement and the rest 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 the SME platform.