SEC okays two rights offers
The Securities and Exchange Commission (SEC) has approved two rights offers and gave a no-go to the initial public offerings (IPO) of two other companies in a meeting yesterday.
SEC Chairman Ziaul Haque Khondker presided over the meeting with the consultative committee of the commission.
Sonargaon Textiles Ltd will offer 10,91,200 ordinary shares of Tk 100 each at an issue price of Tk 150 a share, including a premium of Tk 50 each, at a ratio of one rights share for an existing one.
Social Islami Bank will offer 29,87,81,575 ordinary shares of Tk 10 each at a ratio of one rights share for an existing one.
IPO of STS Holdings Ltd and Rangpur Dairy and Food Products Ltd failed to get approval from the regulator.
The commission also issued a directive to the merchant banks that they are going to need a prior approval from the SEC from now to appoint or suspend their managing directors.