Standard Bank will raise a capital worth Tk 5.0 billion to strengthen its capital base as part of Tier-II Regulatory Capital requirement.
The fund will be collected issuing coupon bearing non-convertible fully redeemable unsecured 3rd subordinated debt for a period of seven years with floating rate.
The company's board of directors has taken the decision of issuing subordinated debt through private placement subject to the approval of the regulatory authorities.
Standard Bank, presently an 'A' category company, was listed with the stock exchanges in 2003.
The company's sponsor-directors hold 38.93 per cent shares, institutions 21.70 per cent, foreign shareholders 2.43 per cent and general shareholders 36.94 per cent as of December 31, 2018.
The company's share price closed at Tk 12.20 each on Monday with a marginal loss of 3.17 per cent or Tk 0.40.
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