New generations Union Bank Limited is coming in the capital market. The bank will be listed on the capital market through an initial public offering (IPO) in a fixed price manner. The company has already got the approval of Bangladesh Bank for this.

Prime Bank Investments Limited (PBIL) and BRAC EPL Investments Limited will act as issue managers to bring the bank to the capital market. For this, an agreement has recently been signed between the three organizations.

ABM Mokammel Haque Chowdhury, Managing Director of Union Bank Limited, Khandaker Raihan Ali FCA, Chief Operating Officer of PBIL and Mr. Syed Rashid Hussain, Chief Executive Officer of BRAC EPL Investments signed on behalf of their respective organizations. Senior officials of three organizations were present at the time.

According to bank sources, the bank will apply with the financial report of December 2020. The company will raise Tk 428 crore from the capital market. At present, the authorized capital of the bank is Tk 1,000 crore and the paid up capital is Tk 559 crore.

Sunbd/NJ