News in brief

AB Bank gets nod to float Tk 500cr bond

The Bangladesh Securities and Exchange Commission (BSEC) has approved a proposal that seeks to issue floating rate subordinated bonds of AB Bank worth Tk 500 crore.

The tenure of the fully redeemable non-convertible bonds will be of seven years. The fund will be raised to strengthen the bank's Tier 2 capital base. The offer price of the bonds will be Tk 1 crore per unit.

BSEC okays alternative investment draft rules

The stockmarket regulator has approved the Bangladesh Securities and Exchange Commission (Alternative Investment) Rules, 2016, which is the amended version of a previous rule of 2015. 

The amended rules will help promote venture financing and equity investment facilities for non-listed local firms. The draft will be published in dailies soon for public opinion.

Eastern Cables placed in 'A' category

Eastern Cables was upgraded from “Z” to “A” category as the company has disbursed 10 percent stock dividend for the year ending on June 30, 2018 and held an annual general meeting. Earlier on May 20, 2018, Dhaka Stock Exchange downgraded the company to “Z” category for failing to hold AGMs on time.