NRB Bank IPO to raise Tk 100cr thru IPO

NRB Bank Ltd has received approval from the Bangladesh Securities and Exchange Commission (BSEC) to raise Tk 100 crore through an initial public offering (IPO) for investment in securities.

The approval came at a BSEC meeting, presided over by Prof Shibli Rubaiyat-ul-Islam, chairman of the regulatory body, at the regulator's office last week, said a press release.

The money raised through the IPO will be used by the bank for investment in government securities and securities listed on the capital market and for initial public offering.