Bangladesh Securities and Exchange Commission (BSEC) extended Beximco Green-Sukuk Al Istisna’s subscription date to 30 September for the second time.
Due to the lower subscription for Initial Public Offering (IPO), the tenure for subscription has been extended first time to 6 September and second time to 30 September.
After the extended time, the Sukuk is under subscription.
The BSEC on Monday issued a letter to BEXIMCO, the originator of the Shariah compliant Sukuk, imposing a condition under 2CC of the Securities and Exchange Ordinance, 1969.
Up to 6 September, 72 bidders bid to get Sukuk units worth Tk 55.71 crore.
On 23 July, BSEC was authorized to issue the Tk3000 crore securities. Half of the Tk 3,000-crore fund will be raised through private placement and the Sukuk worth Tk 750 crore will be raised from the existing BEXIMCO shareholders. The remaining Tk 750 crore will be raised through an IPO in compliance with the BSEC public offer rules.
The minimum subscription unit is 50 and face value of Tk 100 each.
Investment Corporation of Bangladesh is the trustee of the Sukuk, while City Bank Capital Resources Ltd and Agrani Equity and Investment Ltd are jointly working as issue managers.