The Bangladesh Bank on Wednesday approved Global Islami Bank Limited’s proposal to raise Tk425 crore from the stock market through Initial Public Offering.
The fixed price method IPO is now subject to approval from the securities regulator, Bangladesh Securities and Exchange Commission.
The bank appointed LankaBangla Investments Limited and Prime Bank Investment Limited as issue managers and an agreement in this regard was signed on Wednesday.
Managing director of GIBL, Syed Habib Hasnat, chief operating officer of Prime Bank Investment Limited, Khandoker Raihan Ali, and chief operating officer of LankaBangla Investments Limited, Iftekhar Alam, represented their respective sides during the signing ceremony.
Global Islami Bank, which was known as NRB Global Bank until 2021, began its operation in 2013. It currently runs 80 branches, 25 sub-branches and 78 ATM booths.
The Bangladesh Bank in 2013 gave license to nine banks, including NRB Global Bank- now Global Islami Bank, on condition that the banks would be listed on stock exchange within three years of commercial operation.
The eight other bank receiving the license were Meghna Bank, Midland Bank, Modhumoti Bank, NRB Bank, NRB Commercial Bank, South Bangla Agriculture Bank and Commerce Bank, Farmers Bank— now Padma Bank— and Union Bank.
