Union Bank IPO subscription opens on 26 December | The Business Standard
Skip to main content
  • Latest
  • Epaper
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Wednesday
June 18, 2025

Sign In
Subscribe
  • Latest
  • Epaper
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
WEDNESDAY, JUNE 18, 2025
Union Bank IPO subscription opens on 26 December

Corporates

TBS Report
25 November, 2021, 10:20 pm
Last modified: 25 November, 2021, 10:23 pm

Related News

  • Union Bank's unholy union sank it in deep crisis
  • Court freezes Tk 54-crore BO share of ex-secretary's son
  • Union Bank, Sea Pearl, Sonali Life downgraded to Z category
  • MDs of 6 banks, including 4 once controlled by S Alam Group, sent on leave
  • Union Bank PLC conducts 10th board meeting

Union Bank IPO subscription opens on 26 December

The BSEC earlier allowed the bank to raise Tk428 crore by issuing shares through IPO

TBS Report
25 November, 2021, 10:20 pm
Last modified: 25 November, 2021, 10:23 pm
Union Bank IPO subscription opens on 26 December

The subscription of the initial public offering (IPO) of Union Bank will commence on 26 December and continue till 30 December.

The bank received its consent from the Bangladesh Securities and Exchange Commission (BSEC) on Wednesday.

Earlier, the commission allowed the bank to raise Tk428 crore by issuing shares through IPO from the capital market with two conditions.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

The first condition is the bank must invest Tk200 crore in the capital market in 2021 as per the Bangladesh Bank's circular. At the end of 2020, the lender had an investment of Tk4 crore in the capital market.

The other condition stipulates that until being listed on the capital market, the private sector lender may not declare any dividends for its shareholders.

The shares will be offered to the public at a face value of Tk10 each.

Of the total funds raised, the bank will invest Tk271.50 crore in the small and medium enterprises and project finance, Tk100 crore in government securities, and Tk50 crore in the share market. The rest will cover the IPO expenses.

Prime Bank Investment and Brac EPL Investment are the issue managers of the IPO.

As per the bank's draft prospectus, S Alam Group is the owner of the lender, and most of the directors are from the same business group.

The bank started in 2013 and is being operated as a full-fledged Islamic bank. Its current paid-up capital stands at Tk558.93 crore. 

According to the financial statement of the bank, its net profit was Tk98.84 crore at the end of 2020, which was 66% higher than a year ago. In 2018, its net profit was Tk95.36 crore, which was 37% higher than the previous year.

At the end of last year, its classified loans stood at Tk420 crore, which accounts for 2.52% of its total loan portfolio.

Union Bank / IPO subscription

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • US President Donald Trump points a finger as he departs for Canada to attend the G7 Leaders' Summit, from Joint Base Andrews in Maryland, US, June 15, 2025. Photo: REUTERS/Kevin Lamarque
    Trump demands Iran's 'unconditional surrender' as Israel-Iran air war rages on
  • Infographics: Duniya Jahan/TBS
    How Israel's secret nuclear arsenal comes under spotlight amid attacks on Iran
  • Iran's supreme leader Ali Khamenei and US president-elect Donald Trump. Photo: Collected
    'Not going to kill Khamenei, at least for now', says Trump, claiming US knows Iran's supreme leader's location

MOST VIEWED

  • Former Bangladesh High Commissioner to the UK Saida Muna Tasneem. Photo: Collected
    ACC launches inquiry against ex-Bangladesh envoy Saida Muna, husband over laundering Tk2,000cr
  • Infograph: TBS
    Ship congestion at Ctg port lingers as berthing time rises
  • A view of Iranian missiles across the sky as seen by Biman pilot Enam Talukder. Photo: Enam Talukder
    Biman pilot witnessed Iran's missiles flying towards Israel
  • Power Division wants Tk56,000cr PDB loans turned into subsidy
    Power Division wants Tk56,000cr PDB loans turned into subsidy
  • BNP leader Ishraque Hossain held a view-exchange meeting with waste management officials and Dhaka South City Corporation staff inside Nagar Bhaban on 16 June 2025. Photos: Hasan Mehedi
    Ishraque holds Nagar Bhaban meeting as 'Dhaka South mayor', says it’s people’s demand
  • Bangladesh gains bigger share in US apparel market as China loses ground, sees 29% export growth in Jan-Apr
    Bangladesh gains bigger share in US apparel market as China loses ground, sees 29% export growth in Jan-Apr

Related News

  • Union Bank's unholy union sank it in deep crisis
  • Court freezes Tk 54-crore BO share of ex-secretary's son
  • Union Bank, Sea Pearl, Sonali Life downgraded to Z category
  • MDs of 6 banks, including 4 once controlled by S Alam Group, sent on leave
  • Union Bank PLC conducts 10th board meeting

Features

The Kallyanpur Canal is burdened with more than 600,000 kilograms of waste every month. Photo: Courtesy

Kallyanpur canal project shows how to combat plastic pollution in Dhaka

7h | Panorama
The GLS600 overall has a curvaceous nature, with seamless blends across every panel. PHOTO: Arfin Kazi

Mercedes Maybach GLS600: Definitive Luxury

1d | Wheels
Renowned authors Imdadul Haque Milon, Mohit Kamal, and poet–children’s writer Rashed Rouf seen at Current Book Centre, alongside the store's proprietor, Shahin. Photo: Collected

From ‘Screen and Culture’ to ‘Current Book House’: Chattogram’s oldest surviving bookstore

2d | Panorama
Photos: Collected

Kurtis that make a great office wear

4d | Mode

More Videos from TBS

What's behind the animosity between former allies Iran and Israel?

What's behind the animosity between former allies Iran and Israel?

3h | Others
21 Muslim countries condemn Israeli attack on Iran

21 Muslim countries condemn Israeli attack on Iran

3h | TBS World
News of The Day, 17 JUNE 2025

News of The Day, 17 JUNE 2025

5h | TBS News of the day
Rising default loans threaten jobs, growth, trade

Rising default loans threaten jobs, growth, trade

7h | TBS Insight
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net