Business Desk :
Midland Bank Limited is going to raise Tk 70 crore through initial public offering under fixed price method.
The bank signed an issue management agreement with LankaBangla Investment Limited recently.
Under this agreement, LBIL will provide the issue management services for the IPO prospectus of MDBL. The bank will float seven crore shares in the stock market.
Midland Bank vice-president and head of public relations officer Rashadul Anwar Sanjay told that the bank signed deal with LankaBangla Investment.
The bank made the approach to comply with a Bangladesh Bank directive, he said. The Bangladesh Bank in 2013 gave license to nine banks, including Midland Bank, on condition that the banks would be listed on stock exchange within three years of commercial operation.
Mohammed Nasir Uddin Chowdhury, Managing Director of LankaBangla Securities Limited, Md. Zahirul Islam, FCA, Executive Vice President & CFO, Nazmul Ahsan CFA, Senior Assistant Vice President & Head of Treasury and Khalid Mohammad Sharif FCS, Senior Assistant Vice President & Company Secretary of Midland Bank limited along with other high officials of the organisations were present in the signing ceremony.
