Rupali Bank to issue 45.33cr shares to govt against Tk678cr deposit
Rupali Bank, the sole publicly-listed state-owned commercial bank, has decided to issue 45.33 crore ordinary shares at a price of Tk15 each in favor of the secretary of the Finance Division (on behalf of the government).
To get the shareholders approval, the bank called an extraordinary general meeting (EGM) on 30 July through hybrid system and fixed 12 June as the record date for identifying its stakeholders, according to a disclosure on the stock exchange website today (2 May).
In mid March, the bank received approval from the finance ministry to issue ordinary shares, aiming to fortify its share money deposits of Tk680 crore.
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As per company, the ordinary shares were priced at Tk15 each, comprising a Tk5 premium and Tk10 face value.
The shares issuance is subject to approval of the Bangladesh Securities and Exchange Commission (BSEC).
In the EGM, the bank will also seek shareholders permission to increase the authorized capital of the Company from the existing Tk700 crore to Tk2,500 crore, which is subject to NOC of the Bangladesh Bank, reads in disclosure.
The bank also decided to amend the relevant clause(s) of the Articles of Association to increase the remuneration of the directors from Tk8,000 to Tk 10,000.
