The Initial Public Offering (IPO) lottery draw of Janata Bank First Mutual Fund (JBFMF) will be held today (Sunday) at the National Sports Council Auditorium, officials said.
The officials said the draw will be held at 10.30 and the schedule of distributing refund warrants will be announced later.
The size of JBFMF is Tk 2.0 billion. Of its total size Janata Bank will subscribe units worth Tk 500 million as the sponsor, while of the rest Tk 1.0 billion will be kept for initial public offering (IPO) and Tk 500 million for pre-IPO or private placement and other mutual funds.
The face value of the units of JBFMF is of Tk 10 and a market will contain 500 units.
This will be the first mutual fund launched by a state-owned commercial bank.
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