Janata Bank First Mutual Fund

Janata Bank 1st Mutual Fund got the SEC nod with a lock-in period of one year for private placement though the sponsors and the fund manager wanted to ease the lock-in period.


In a move to ease the lock-in period for private placement, the fund manager did not mention lock-in period in their submitted prospectus for getting the trust deed approval before the new criteria of private placement comes into effect.

Size of IPO: Tk 2.0 billion (200 crore) closed-end mutual fund.

Sponsored By: Janata Bank Limited

Distribution of Shares: Janata Bank will subscribe units worth Tk 50 crore as the sponsor, while of the rest Tk 100 crore will be kept for initial public offering (IPO) and Tk 50 crore for pre-IPO placement or private placement and other mutual funds.

Face Value : Tk. 10

Offer Price: Tk. 10

Market lot : 500

Subscription Open : 01 August, 2010

Subscription Ended: 05 August, 2010 (for Bangladeshis) and 14 August, 2010 (non-resident Bangladeshis)

Manager to the Issue: Race Asset Management

Janata Bank First Mutual Fund IPO application form : Click here