Beximco Sukuk bond attracts one buyer in 2nd round
BI Report || BusinessInsider
Beximco Sukuk logo.
After receiving tepid response in the first round, Beximco Sukuk bond attracted only one buyer in the second round that ended on Monday.
Only one investor has applied for subscribing the bond at Tk 10 lakh in the second round, according to the Dhaka Stock Exchange.
In total, the bond received total bids worth over Tk 55 crore against the public offer of Tk 750 crore.
In the first phase, the subscription for the country's largest private Sukuk bond started on August 17 and ended on August 23.
The issue was subscribed only 7.41 percent in the first phase. The offer received bids worth Tk 55.61 crore from the 71 institutional investors, according to the DSE.
Earlier, the company got the securities regulator’s approval to raise Tk3,000 crore through the Sukuk bond. Of this, Tk 750 crore has been allocated for IPO. The remaining Tk 2,250 crore will be collected through private placement.
The face value of the bond is Tk 100 per unit. The minimum subscription is Tk 5000 and the minimum lot is 50.