The Shares of South Bangla Agriculture and Commerce (SBAC) Bank's initial public offering (IPO) have been allotted on Thursday at Dhaka Stock Exchange Head Office in the city of Dhaka.
In return for the application of Tk10,000, 60 shares will get to the general investors, 76 shares to the affected investors and 108 shares to the NRB investors, said a press release.
On the ceremony of share allotment programme, SM Amzad Hossain, Chairman of SBAC Bank, Mosleh Uddin Ahmed, Managing Director & CEO, Tariq Amin Bhuyan, Managing Director of Dhaka Stock Exchange Ltd, M Shaifur Rahman Mazumdar FCA, Chief Operating Officer of DSE, Md Mokaddes Ali, Company Secretary of the Bank, Swapna Roy of ICB Capital Management were present in the ceremony.
According to the DSE, the company's IPO shares have been 13.91 times oversubscribed by eligible investors who submitted applications through the electronic subscription system (ESS).
The company completed its IPO subscription from July 5-12, 2021.