SEC okays rights offer of Lafarge

The Securities and Exchange Commission yesterday approved a rights offer of Lafarge Surma Cement.
The regulator approved the rights offer at a regular meeting, said Saifur Rahman, an executive director of SEC.
The company will issue 5.80 crore ordinary shares of Tk 100 each totalling Tk 580.68 crore. The company will offer one rights share for each existing share.
The company will use the fund to repay bank loans, said Rahman.
The issue manager of the company is BRAC EPL.