Deshbandhu Polymer to raise Tk 500 crore through Sukuk

Deshbandhu Polymer, a listed polymer manufacturer, has decided to raise a fund of Tk 500 crore through Sukuk.

The company disclosed the information at the Dhaka Stock Exchange (DSE) website today. After the disclosure, stocks Deshbandhu Polymer rose 2.6 per cent to Tk 23.70.

The company said its board of directors approved a plan to issue a sukuk targeting up to Tk 500 crore, subject to the approval of Bangladesh Securities and Exchange Commission.

"The amount will be confirmed by the issue manager, including structuring specialist, which might be in the level of up to Tk 500 crore by Sukuk and/or right issue and/or convertible option for Sukuk etc."