Global Islami Bank to debut on bourses Wednesday
The bank raised Tk425 crore through IPO
Global Islami Bank Limited – a new generation Shariah-based private sector lender – will make its stock trading debut on the Dhaka and Chattogram bourses on Wednesday.
The bank completed its initial public offering (IPO) between 16 and 20 October.
In June this year, the Bangladesh Securities and Exchange Commission (BSEC) allowed Global Islami Bank to raise Tk425 crore by issuing ordinary shares at a face value of Tk10 each.
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The bank allotted 25% of the shares for non-resident Bangladeshi (NRB) workers, and the rest for individual and institutional investors.
Of the IPO amount, it will invest Tk268.5 crore in government securities and bonds, and Tk100 crore in small and medium enterprises (SMEs).
According to a stock exchange filing on Tuesday, the bank's net profit declined 29% to Tk34.13 crore in the third quarter (July-September) of this year, compared to the same period last year.
In the first nine months, its profit dropped by 18% year-on-year to Tk80.73 crore.
Global Islami Bank is a full-fledged Islamic Shariah-based commercial bank which started operations in 2013.
