BD Finance Capital Holdings, a subsidiary of Bangladesh Finance, will manage the issue of right shares of First Security Islami Bank Limited.
On 20 September, the companies signed a memorandum of understanding at the head office of the Shariah-based private sector lender in the capital, read a press statement.
First Securities Islami Bank has said its board of directors recommended raising the paid-up capital of the company through the issuance of rights shares at a ratio of one right share against two existing shares at a rate of Tk10 each against the face value of the same.
The issuance is subject to regulatory approval.
When a company gives its shareholders an offer to buy new shares against their existing shares, the new shares are called right shares.
First Security Islami Bank's Managing Director (MD) Syed Waseque Md Ali, Additional Managing Director Md Mustafa Khair, Deputy Managing Director Md Zahurul Haque, Company Secretary Oli Kamal, FCS were among the bank's representatives present at the signing ceremony.
On the other hand, Bangladesh Finance's MD and Chief Executive Officer (CEO) Kyser Hamid, BD Finance Capital's MD and CEO Barun Prasad Paul, Head of Structured Finance Sumit Podder, and BD Finance's Head of Structured Finance Amitav Deb Nath were present from the issue manager's side.