The Securities and Exchange Commission on Tuesday approved a Tk 150-crore AB Bank 1st Mutual Fund with a redemption period of 10 years.
'The fund will raise Tk 77 crore through an initial public offering and Tk 75 crore from sponsors and pre-IPO placement holders,' an SEC official told reporters.
The face value of each unit of the fund is
Tk 10 and the market lot consists of 500 units, he said.
Race Asset Management is the asset manager of the fund while its trusty is Bangladesh General Insurance Company. BRAC Bank is the custodian.
Source : New Age
