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S Alam Cold Rolled Steels' share allotment lottery tomorrow
FE Report
3/29/2006
S Alam Cold Rolled Steels Ltd (SACRSL) will hold its lottery for allotment of shares among applicants tomorrow (Thursday) at 10-00 am at the auditorium of the city's Bangladesh Institute of Administration and Management (BIAM).
"The Securities and Exchange Commission (SEC) Monday approved the lottery date," one company source told the FE.
The Investment Corporation of Bangladesh (ICB) was included in the SACRSL board of directors in its 5th annual general meeting (AGM) held Monday in Chittagong.
"Shareholders approved the proposal to include the ICB as the largest institutional investor in the stock market in our highest policy-making body," the company source added.
ICB General Manager Md Fayekuzzaman will represent the ICB in the board of directors of SACRSL.
The other institutional investors of the SACRSL are Union Capital Ltd, South Asia Capital Ltd, Meghna Life Insurance Ltd, Unique Stock Management Ltd and Industrial and Infrastructure Development Finance Company Ltd.
A total of 82,499 applicants deposited an amount of Tk 442.07 million against Tk 120 million during the subscription period from February 19 to February 26. Of the total applicants, 80362 are locals and 2137 non-resident Bangladeshis (NRBs). The NRBs were allowed to subscribe till March 7.
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