LankaBangla to assist Midland Bank’s stock market listing

LankaBangla Investments Limited (LBIL), a leading local investment bank, will provide issue management services for the prospective initial public offering (IPO) of Midland Bank Limited (MDBL), a new generation commercial bank.

The two institutions have signed an agreement in this regard, according to a statement by the issue manager.

Md Ahsan-Uz Zaman, managing director (MD) and chief executive officer (CEO) of Midland Bank and Iftekhar Alam, CEO of LankaBangla Investments signed the agreement on behalf of their respective organisations. 

Mohammed Nasir Uddin Chowdhury, MD of LankaBangla Securities Limited, was present at the event.

Md Zahirul Islam, FCA, executive vice president and chief financial officer; Nazmul Ahsan CFA, senior assistant vice president and head of treasury; and Khalid Mohammad Sharif, FCS, senior assistant vice president and company secretary of Midland Bank along with other high officials of the two organisations were also present in the signing ceremony.

Midland Bank Limited came to the financial frontier of Bangladesh in 2013 to serve people from all walks of life.

Since its inception, the bank has been focusing on convenience and accessibility to create superior customer experience.

Being committed to the clients, community and economy, the bank aims to bind the nation together by taking people from all across the urban and rural, local and global societies onboard, to pursue inclusive banking resonating with their corporate slogan "Banking for Inclusive Growth". 

The initiative of listing with the bourses will enhance the credibility and sustainability of the MDBL, reads the statement.

Of the new generation banks, NRB Commercial Bank is already in the process to get listed on the stock exchanges following a successful subscription by investors.

South Bangla Agricultural Bank, another new generation bank, has applied for its IPO.