Home ›› 21 Sep 2022 ›› Stock
ICB AMCL CMSF Golden Jubilee Mutual Fund, a closed-end mutual fund sponsored by the Capital Market Stabilization Fund (CMSF), is set to make its trading debut on both the bourses of the country today.
On June 28, Bangladesh Securities and Exchange Commission (BSEC) approved to issue the mutual fund.
The fund’s total size is Tk100 crore with a face value of Tk 10 per unit.
CMSF contributed Tk 50 crore, or 50 per cent of the total fund size, while the fund manager, ICB Asset Management Company Limited (AMCL), contributed Tk20 crore and the Investment Corporation of Bangladesh (ICB) contributed Tk 5 crore as pre-IPO placement.
The remaining Tk 25 crore was raised from general investors through an initial public offering (IPO) held on August 17-24, 2022. According to the officials, the mutual fund’s IPO was 1.60 times oversubscribed. In exchange for a Tk 10,000 application, each general investor received 628 units of ICB AMCL CMSF Golden Jubilee Mutual Fund. The mutual fund’s custodian is BRAC Bank Ltd, and its trustee is Bangladesh General Insurance Company Ltd.
To commemorate Bangladesh’s Golden Jubilee of Independence and ‘Mujib Barsha’, CMSF has launched this closed-end mutual fund.
Currently, 36 closed-end mutual funds are listed on the capital market.
On the occasion, the CMSF committee held an event titled ‘Ring the Bell Ceremony of ICB AMCL CMSF Golden Jubilee Mutual Fund and Investors’ Claim Settlement Programme’ in Dhaka on Tuesday.
