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Labaid Cancer Hospital plans to go public

Staff Correspondent
22 Mar 2023 00:00:00 | Update: 21 Mar 2023 23:03:37
Labaid Cancer Hospital plans to go public

Labaid Cancer Hospital and Super Specialty Centre, a sister concern of Labaid Diagnostic Centre, is planning to raise fund through an initial public offering (IPO).

To this end, the hospital signed a corporate advisory and issue management agreement with City Bank Capital, a leading merchant at the bank’s headquarters in the capital recently.

Ershad Hossain, managing director and chief executive officer of City Bank Capital, and Sakif Shamim, managing director of Labaid Cancer Hospital and Super Speciality Centre signed the agreement on behalf of their respective organisations. Other high officials from both organisations were also present at the event.

As per the agreement, the bank will act as the corporate advisor of Labaid to reach the maximum corporate maturity, while it will also ensure the successful IPO launch of the hospital as its issue manager.

Ershad Hossain said, “We are happy to support Labaid to implement its strategic policies. As a leading merchant bank, we have expertise to provide tailored solutions to meet the unique needs of our clients.”

Talking about the deal, Sakif Shamim said, “We are excited to have City Capital as our corporate advisor and issue manager. We are confident that with their support we can continue to achieve our growth targets.”

City Capital is a wholly-owned subsidiary of the City Bank Ltd handling mergers and acquisitions, debt and equity, and structured finance-related issues, and consultancy on behalf of the listed bank.

On the other hand, Labaid Cancer Hospital and Super Speciality Centre is the first fully integrated cancer hospital in the country.

With the right combination of 30 years of trust and leadership in innovative health science, they have brought much development in the overall cancer treatment in Bangladesh.