The subscription date for Beximco Green-Sukuk Al Istisna—the first-ever asset-backed securities by any private sector entity in Bangladesh—for eligible investors has been extended to 6 September.
Earlier, its electronic subscription started on 16 August and continued till 23 August through the electronic subscription system of the stock exchange.
But due to the lower subscription than the allotment for Initial Public Offering (IPO), the time for subscription has been extended, said Dhaka Stock Exchange (DSE) sources.
According to the company, a 25% or Tk750cr of the green Sukuk was allotted for public offerings among the eligible investors (EI) and the general public (GP).
Until 23 August, 71 bidders bid to get Sukuk units worth Tk55.61cr, which is 7.41% of Tk750cr.
On 23 July, Beximco Ltd had secured approval from Bangladesh Securities and Exchange Commission (BSEC) to issue Tk3000cr green Sukuk Al Istisna—the Islamic asset-backed securities.
Half of the Sukuk was allotted for private placement and the rest 25% was reserved for Beximco's existing shareholders. Those who were holding the company shares on 19 July are entitled to subscribe.
An investor will have to subscribe to one or multiple lots of 50 units of the Sukuk having a face value of Tk100 each.