First Security Islami Bank has decided to raise capital of Tk 498 crore by issuing the right shares to its shareholders. The bank aims to strengthen the capital base as required by the Bangladesh Bank.
As per the board decision, the bank wants to issue the right shares at a ratio of 1R:2 (one right share for every two ordinary shares).
The share price has been set to Tk 10 each.
The bank will arrange an extraordinary general meeting on 27 October to get shareholders’ approval for the right share issuance. The record date has been set for 6 October.
However, Bangladesh Securities and Exchange Commission (BSEC) is yet to approve the decision.
A senior officer of the bank, seeking anonymity, said it wants to go for large-scale investment in various sectors, which have a good prospect in the coming days.