SBAC Bank to debut on bourses Wednesday
BI Report || BusinessInsider
SBAC Bank logo
South Bangla Agriculture and Commerce (SBAC) Bank will debut on the stock exchanges Wednesday.
According to the Dhaka Stock Exchange (DSE), the trading code of the bank is ‘SBACBANK’.
The subscription closed on July 12. Its offer value is Tk 10 for each share. The proceeds from the IPO will be used in purchasing government securities and meeting the IPO costs.
According to the company’s audited financial statement ending September 30, 2020, the net asset value without revaluation was Tk 13.18. And in 9 months of the year, its EPS stood at Tk0.94.
ICB Capital Management is in charge of the company’s issue management in the IPO.
On May 9, the bank got the IPO approval from the Bangladesh Securities and Exchange Commission.
It was incorporated in 2013. Its authorised capital is Tk 10 billion and paid up capital Tk 4.98 billion, according to the bank’s website.
The bank has 82 branches and six sub-branches across the country.
