Bangladesh Submarine Cables issues two crore ordinary shares
Bangladesh Submarine Cables, a listed company in stock Market, will issue 2 crore 21 lakh 33 thousand 333 ordinary shares. Each share of face value of Tk. 10 will be issued at Tk. 75 with premium.
This share issue has been approved by the regulatory body Bangladesh Securities and Exchange Commission. Farhana Faruqi, spokesperson of the regulatory body, told the media that this approval was given in the 920th commission meeting of BSEC.
He said, Bangladesh Submarine Cables has been allowed to issue 2 crore 21 lakh 33 thousand 333 ordinary shares at an issue price of 75 taka (face value 10 taka) with a premium of 65 taka.
This entire share issued against the deposit of share money given by the government will be issued in favor of the Secretary of the Department of Posts and Telecommunications of the Ministry of Posts, Telecommunications and Information Technology of the Government of Bangladesh.
BSEC spokesperson said, in the commission meeting, Alif Industries Limited's request for increase in subscription period for withdrawal of total capital of Tk 200 crore (Tk 22 per share) from the directors of the board of directors was rejected. Besides, as the company failed to withdraw the said capital within the stipulated period, the consent letter issued earlier by the commission was withdrawn.
Besides, it has been decided to complete the proposal of winding up payment of RBIMCO BGFI fund managed by Royal Bengal Investment Management submitted by Bangladesh General Insurance Company in the commission meeting as per the rules.
