The Dhaka Stock Exchange (DSE) board is likely to approve the debut trading day of First Janata Bank Mutual Fund today (Thursday).
The DSE listing committee in a meeting Wednesday recommended for listing of the 10-year tenured mutual fund worth Tk 2.0 billion, which equals with the largest ever mutual fund --Trust Bank First Mutual Fund that made debut early this year.
It will be 27th mutual fund to be listed with the stock exchanges and also the first fund sponsored by the state-owned Janata Bank.
"The recommendation was forwarded to the DSE board for its listing approval and fixing debut trading day," said a DSE official. The board meeting scheduled for today might fix the debut day, he added.
Of the fund size, Tk 1.0 billion has been allocated for IPO (initial public offering), Tk 500 million for sponsors and Tk 500 million for pre-IPO placement. Each unit price of the fund is Tk 10.
IPO of the mutual fund was oversubscribed by more than five times.
The subscription of the fund opened on August 1 and ended on August 5. For non-resident Bangladeshis, the subscription closed on August 14.
The objective of the fund is to provide attractive dividend to the unit holders by investing the proceeds in the various instruments in the Bangladeshi capital market and money market, according to the prospectus.
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