Janata Bank Mutula Fund IPO result publish soon.
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Final Status of IPO- 1st Janata Bank MF
Total subscription received other than NRB=Tk.3,584,810,000, NRB=Tk.79,390,000 & Mutual Fund=Tk. 676,500,000.
Total subscription received=Tk. 4,340,700,000 against Public Issue of IPO of Tk.1,000,000,000 which is over subscribed by 4.34 times.
Total subscription received=Tk. 4,340,700,000 against Public Issue of IPO of Tk.1,000,000,000 which is over subscribed by 4.34 times.
Size of IPO: Tk 200 crore closed-end mutual fund.
Sponsored By: Janata Bank Ltd.
Distribution of Shares:
Janata Bank will subscribe units worth Tk 50 crore as the sponsor, while of the rest Tk 100 crore will be kept for initial public offering (IPO) and Tk 50 crore for pre-IPO or private placement and other mutual funds.
Face Value : Tk. 10
Offer Price: Tk. 10
Market lot : 500
Subscription Open : 01 August, 2010
Subscription Ended: 05 August, 2010
Manager to the Issue: Race Asset Management
Janata Bank First Mutual Fund got the SEC nod with a lock-in period of one year for private placement though the sponsors and the fund manager wanted to ease the lock-in period.
In a move to ease the lock-in period for private placement, the fund manager did not mention lock-in period in their submitted prospectus for getting the trust deed approval before the new criteria of private placement comes into effect.
In a move to ease the lock-in period for private placement, the fund manager did not mention lock-in period in their submitted prospectus for getting the trust deed approval before the new criteria of private placement comes into effect.
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