Jamuna Bank to issue Tk 5.0b bond

The board of directors of Jamuna Bank has decided to issue non-convertible subordinated bond worth Tk 5.0 billion, officials said.

The bank will issue the bond for raising fund through private placement to meet capital requirement under Basel II and to strengthen the regulatory capital base of the bank.

However, the bond issue is subject to regulatory approval from Bangladesh Securities and Exchange Commission (BSEC) and Bangladesh Bank (BB).

Each share of the bank, which was listed on the Dhaka bourse in 2006, closed at Tk 22.90 on Thursday at Dhaka Stock Exchange (DSE).

Sponsor-directors own 49.59 per cent stake in the bank, while institutional investors own 10.87 per cent and the general public 39.56 per cent as on July 31, 2017.

The bank's paid-up capital is Tk 6.14 billion and authorised capital is Tk 10 billion, while total number of securities is 614.14 million, according to statistics from the DSE.

-bb/rmc