 | Janata Bank likely to get SEC nod soon to go public
08 August, 2010
Janata Bank (JB), the country's second largest state-owned commercial bank, will get the SEC nod very soon to go public under fixed price method, officials said.
The bank submitted its initial public offering (IPO) proposal to the SEC to offload 10 million shares, demanding a premium of Tk 900 against each share of Tk 100.
An SEC official said after justifying the premium the SEC would allow the bank to go public. However, another official said a dispute has arisen due to the bank's high premium demand, and so the SEC nod for the bank is likely to be delayed.
But the ICB Capital Management Limited, an issue manager of Janata Bank, said the premium demand is not irrelevant, compared to its net asset value (NAV).
Release link:http://www.thefinancialexpress-bd.com/more.php?news_id=108394&date=2010-08-08
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