 | Apollo Hospitals, ITCL plan to float shares
15 January, 2010
Apollo Hospitals Dhaka and Information Technology Company Ltd are going to float shares to raise money for business expansion.
Both the companies have collected Tk 735 million through private placements, said Mafizuddin Sarker, managing director of LankaBangla.Finance, lead manager of both the private placements.
Ten organisations took part in funding Apollo, whereas 13 companies financed ITCL, he said.
Apollo Hospital will hit the capital market this year and ITCL next year, he said adding, "It is yet to be decided how many shares thecompanies will float or how much money they will raise."
LankaBangla is also working as lead manager to collect Tk 620 million as private placement for three companies, said Mr Mafiz, also chairman of the Bangladesh Leasing and Finance Companies Association (BLFCA).
The 29 non-bank financial institutions did very good business in 2009 and they earned about Tk 4 billion net profit, he said.
Release link:http://www.thefinancialexpress-bd.com/more.php?news_id=89557
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