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Islamic Finance begins share trading on bourses Dec 11
FE Report
12/7/2005
Share trading of Islamic Finance & Investment Ltd will begin on both Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) on December 11.
The listing sub-committee of the DSE at a meeting Monday approved the listing of the company, while the final approval is expected to come from a meeting of the board today (Wednesday), sources concerned said.
The CSE, country's second stock exchange, has already enlisted the company.
Islamic Finance & Investment Ltd (IFIL), a non-banking financial institution (NBFI), offered a total of one million shares with the face value of Tk 100 each for the general public.
It was oversubscribed by about 17 times.
The subscription of the company ended on September 29. The IFIL will be the ninth listed company in the leasing sub-sector.
The other listed NBFIs are IDLC, United Leasing, Uttara Finance, Midas Financing, First Lease International, People's Leasing, Prime Finance and Premier Leasing.
Of them IDLC got listed in 1992, United Leasing 1994, Uttara Finance 1997, Midas Financing 2002, First Lease International 2003, People's Leasing, Prime Finance and Premier Leasing 2005.
All the companies are being traded in A-category on the DSE.
Meanwhile, trading of another insurance company-Asia-Pacific General Insurance-began on the CSE on December 4.
The company, however, is yet to be listed with the DSE.
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