FE Report

The securities regulator Wednesday approved the rights offer of the FAS Finance and Investment (FFI) and the trust deed of an open-end mutual fund--CAPM Unit Fund, officials said.

The approvals came at a commission meeting chaired by the chairman of the Bangladesh Securities and Exchange Commission (BSEC) Professor Khairul Hossain.

As per the regulatory decision, the FFI will issue one right share against one existing share at the face value without charging any premium.

The company will raise a fund above Tk 542.47 million through the issuance of more than 54.24 million ordinary shares.

The securities regulator has approved the trust and the investment management deal of the open-end mutual fund named CAMP (Capital and Asset Portfolio Management) Unit Fund.

The CAPM Company has been appointed the fund manager of the CAPM Unit Fund, whose initial size is of Tk 100 million.

At Wednesday's meeting, the regulator has asked Reliance Insurance, United Commercial Bank (UCB) and IDLC Finance to comply with the Corporate Governance Guideline (CGG) on urgent basis by rejecting the companies' plea for time extension.

Besides, the BSEC has slapped Tk 0.1 million fines on each of two companies--Globe Securities and Shaymol Equity Management--for disbursing margin loans against 'Z' category share.

The Stock Broker Mercantile Bank Securities has been fined Tk 0.1 million for disbursing margin loan against 'Z' category share.

The Fidelity Assets and Securities, the Mona Financial Consultancy and Securities and the Salta Capital have also been fined Tk 0.1 million each for breaching the securities rules on margin laon.