Home ›› 05 Dec 2021 ›› Stock
Al-Arafah Islami Bank Limited is all set to start trading of its Mudaraba Perpetual Bond at the Dhaka Stock Exchange (DSE) on Sunday.
It will carry out trading with “AIBLPBOND” code while its company code is 26005.
A perpetual bond is a fixed income security with no maturity date and is often considered as a type of equity rather than debt. These bonds are not redeemable but instead provide a never-ending stream of interest payments.
The stock market regulator -- Bangladesh Securities and Exchange Commission (BSEC) -- approved the proposal of Al-Arafah Islami Bank to issue “AIBL Mudaraba Perpetual Bond” worth Tk 500 crore.
Of the amount, Tk 450 crore was raised through private placement and the remaining Tk 50 crore through public offering in compliance with the BSEC public offering rules.
The publicly traded bank will use the fund to strengthen its additional Tier-1 capital base.
The investors subscribed for the bond between November 8 and 14.
Recently, the BSEC issued a directive saying that perpetual bonds issued by the banks must be listed on the bourses through the direct listing method.
