The lottery for share allotment of Jamuna Bank Ltd is likely to be held on March 13, subject to the approval of the Securities and Exchange Commission (SEC).
"We have applied for holding the lottery on the day at the city's Bangladesh-China Friendship Conference Centre, but we are yet to obtain the regulatory body's approval," one market source, involved with the company's initial public offering (IPO) floatation, told the FE Sunday.
A total of 523,013 local applicants, with an amount of over Tk 3.17 billion (317 crore), had applied for its IPO subscription, during the period of February 5 to 9.
Jamuna Bank, a third generation private commercial bank (PCB), offered a total of 4,290,000 shares, with the offer price of Tk 120 per share (Tk 20 premium) for the general investors.
As per prospectus, the company's earning per share was Tk 41.75, while the net asset value was Tk 158.84.
Meanwhile, the subscription of Northern General Insurance begins on March 19 and closes on March 23. The company has offered a total of 900,000 shares with the face value of Tk 100 each.