SBAC Bank tops gainers’ list on market debut

On its much-anticipated debut on the capital market on Wednesday, South Bangla Agriculture & Commerce Bank (SBAC) made it to the top of investors' interest at the Dhaka Stock Exchange (DSE).

The fourth-generation bank topped the gainers’ list on its very first trading day with share price rise of 10 per cent to stand at Tk 11.

A total of 8,247 shares of the bank were exchanged in 66 trades during the day’s trading period, according to the DSE data.

The face value of each SBAC Bank share is Tk10. As a new comer to the market, the bank is carrying out transactions under N category.

On May 9 this year, the Bangladesh Securities and Exchange Commission (BSEC) approved the initial public offering (IPO) of SBAC.

The bank's IPO application started on July 5 and continued till July 11. The IPO was oversubscribed by around 14 per cent.

The paid up capital of the bank is Tk 784.64 crore, when the authorised capital is Tk 1,000 crore. The total number of shares of the bank is Tk 78.46 crore.