The Securities and Exchange Commission on Tuesday approved the rights offer of United Airways allowing the company to raise Tk 315 crore by issuing rights share to investors.
The company will issue 21 crore rights share at a ratio of one share for one existing share at an issue price of Tk15 including a premium of Tk 5.
The SEC also approved Beximco Ltd's application to raise its capital to Tk 107,28,29,200 crore against 10,72,82,902 shares, by amalgamating shares of Bextex Limited.
The SEC approval came following the High Court order allowing the amalgamation of the Bextex Ltd with Beximco Ltd at an exchange rate of five Bextex ordinary shares for one of Beximco Ltd.
The merger of the two companies will come into affect from July 31.
The general index of Dhaka Stock Exchange, meanwhile, dipped further for the second day on Tuesday as the investors went for massive sell-offs.
DGEN, the benchmark general index, lost 54.35 points, or 0.81 per cent, to close the day at 6,642.03 points.
Turnover of the bourse was Tk 1,680.70 crore, which is Tk 202 crore lower than the previous day's turnover.
Market operators said investors on Tuesday went for heavy sell-offs because of a number of factors like poor corporate disclosers by a number of banks and non bank financial institutions and the announcement of offloading of additional shares by two state-run companies.
Of the 264 issues traded on the day, 86 advanced, 171 declined and seven remained unchanged.
Titas Gas topped the turnover leaders with shares worth Tk 81.35 crore changing hands.
The other turnover leaders included RN Spinning, Grameenphone, National Bank, United Airways, S Alam Cold Rolled Steels, One Bank, Peoples Leasing and Financial Services Ltd, MI Cements, and Keya Cosmetics.
Source : New Age
