|Published : 19 Oct 2016, 22:02:22|
FSSL now NRB Equity Management
First Securities Services Limited (FSSL), one of the leading merchant banks in Bangladesh, was recently renamed as NRB Equity Management Limited to rebrand itself.
"Half a dozen of Non-Resident Bangladeshis (NRBs), some established businessmen and seasoned professionals are now working behind the company to take it to 'a new dimension'," said a statement.
According to Md. Kamrul Hassan, Vice Chairman of the company the renaming is 'an important step in our journey to completely rebuild the company as an innovative one that truly cares for its customers'.
On October 5, 2016, Bangladesh Securities and Exchange Commission formally approved the new name of the company.
The current paid up capital of the company is Tk 250 million and its shareholder equity is Tk 360 million.
It has recently signed IPO advisory service agreements with four companies-Kattali Textile Limited, RK Spinning Mills Limited, Lub-rref (Bangladesh) Limited, B. Brothers Garments Limited and e- Generation Limited.
Negotiations for the issue management are also on with a few more companies.
The company offers many more services, including takeover, merger & acquisitions, advisory service, discretionary or non discretionary operation of accounts, underwriting and corporate advisory services on capital raising etc. It hopes increased participation of both NRBs and foreign institutional investors in the local capital markets as Bangladesh has already been identified by the leading international rating agencies like Moody's, Goldman Sachs etc. as an emerging economy with great potential.