Electronic subscription of country’s first Exchange Traded Fund (ETF) LB Multi Asset Income ETF has been re-launched. Today (April 23) from 10 am which will last until May 23 at 4:30 pm.
This information is known from the sources of Dhaka Stock Exchange.
According to the information, the fund will raise capital of Rs 70 crore through private placement. The face value of each unit is Rs. Minimum subscription amount is 1 lakh rupees. Maximum limit is 50 crores.
It is known that the founder of ETF is Lankabangla Investment Limited. The asset manager is LongkongBangla Asset Management Company Limited. Bangladesh General Insurance Company (BGIC) is acting as trustee and BRAC Bank as custodian. Its authorized participants include Lankabangla Securities, Green Delta Securities and United Financial Trading Company Limited.
The initial size of this ETF, the country’s first, will be Tk 100 crore. Out of this, entrepreneur company Lankabangla Investments will invest 10 crores and asset manager Lankabangla Asset Management will invest 2 crores. The rest of the money will be raised through private placements and public offers.
Mention, in the 849th commission meeting of BSEC, LankaBangla ETF was approved. ETFs can be traded on DSE like any other share. Authorized Participants will actively participate in pricing and providing liquidity to ETFs. Earlier, the company’s subscription to raise capital from eligible investors ran from February 12-28.
FINANCIAL/MR
