The Securities and Exchange Commission on Tuesday approved rights offer of International Leasing and Financial Services Ltd and Federal Insurance Company Ltd.
SEC executive director, Saifur Rahman, said, 'The commission approved rights offer of the two companies to help increase share supply in the market.'
He said the commission has plans to introduce fresh companies to the market to widen the choice of the investors in the future.
SEC approved the rights offer of ILFSL at a ratio of one right share for one existing share for 81,46,600 ordinary shares of Tk. 100.00 each at face value, amounting Tk. 81,46,60,000.
The commission also approved rights offer of Federal Insurance at a ratio of two rights shares for one existing share for 2,24,39,480 ordinary shares of Tk. 10.00 each at face value, amounting Tk. 22,43,94,800.
Source : New Age
