SEC has approved IPO of Bangladesh Submarine Cable Company

Another government owned organization Bangladesh Submarine Cable Company is going to be enlisted in share market. They are going to enlisted in share market as a part of initiative of enlisting government company to share market. The company got approval on a regular meeting of SEC to issue share through IPO offerings. IPO offerings for a mutual fund have been approved on the same meeting. The news came to media on a press release of SEC. SEC has informed that Submarine Cable Company will collect Tk. 1085000000.00 through 31000000 share among them 1000000 shares will allocated for employees of the organization. Price of each share will be 35 taka with a premium of 25 taka. The company will use part of the money to repay the loan of Islamic Development Bank(IDB) and rest will be used as working capital of the company.

Posted in: Forth Coming IPO