Midland Bank coming to capital market

Sunbd Desk || Published: 2021-02-23 08:51:16 || Updated: 2021-02-23 08:51:16

New generations Midland bank is coming to the capital market. Lankabangla Investments Limited will act as the issue manager to bring the bank to the capital market. An agreement has been signed today between the two companies to enter the stock market.

Ahsan-Uzzaman, Managing Director and Chief Executive Officer (CEO) of Midland Bank and Iftekhar Alam, Chief Executive Officer (CEO) of Lankabangla Investments signed the agreement on behalf of their respective organizations. Also present on the occasion were Lankabangla Securities Managing Director Mohammad Nasir Uddin Chowdhury, Bank’s Chief Financial Officer (CFO) Zahirul Islam, FCA, Treasury Head Nazmul Ahsan, CFA, Company Secretary Khalid Mohammad Sharif and senior officials of both the companies.

According to bank sources, the company wants to raise Rs 70 crore from the capital market at a fixed price. The company wants to apply for an IPO with its December 2020 financial report.

Midland Bank launched the in 2013 under the slogan ‘Bank for Inclusive Growth’. Although the bank has not been able to increase its customer base much in the last 7 years, it has made progress in corporate governance.

Sunbd/NJ

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