The trading of Al Arafah Islami Bank Limited's 'AIBL Mudaraba', the very first perpetual bond that got approved under the new regulation, began on Sunday.
On the occasion, a ring bell ceremony was held at DSE Tower in the capital, reads a press release.
In the trading inaugural ceremony, M Shaifur Rahman Mazumdar, Chief Operating Officer of Dhaka Stock Exchange; Muhammed Nadim, deputy managing director of Al-Arafah Islami Bank Ltd and Tanzim Alamgir, managing director and CEO of UCB Investment Limited were present among the high officials.
After a hiatus of 14 years, the AIBL Mudaraba Perpetual bond has made its debut on Dhaka Stock Exchange. The public offer portion of this bond is oversubscribed by 1.35 times.
A perpetual bond is fixed income security with no maturity date and is often considered as a type of equity rather than debt. These types of bonds are not redeemable but instead provide a never-ending stream of interest payments.
This is to be noted, UCB Investment Ltd is the issue manager and arranger of this issuance.