The New Nation - Internet Edition

Staff Reporter

Trading of the shares of Trust Bank Ltd is likely to begin on both Dhaka Stock Exchange (DSE) and Chitagong Stock Exchange (CSE) October 1 next

The DSE board in a meeting Tuesday fixed the tentative date for the debut trading of the newly listed banking issue, a source of the country's major capital market told The New Nation yesterday.

"Army Chief General Moeen U Ahmed, who is also the chairman of the board of directors of Trust Bank Ltd, is likely to be present as chief guest on the occasion. That is why we have not yet finalised the debut trading date," the DSE source said. The source said the DSE board meeting also decided that Phoenix Finance and Investments Ltd, a non-banking financial institution (NBFI), will be traded from today.

Trust Bank Ltd floated a total of 4,666,700 shares worth Tk 700 million. The subscription ended July 28 last

The offer price of per share of the banking issue was Tk 150 with a premium of Tk 50 each.

Trust Bank Ltd's IPO was oversubscribed by about 11 times. With the listing of Trust Bank Ltd, only one private commercial bank (PCB) -- First Security Bank - now remains a non-listed bank.

First Security Bank Ltd will hopefully go public by the end of June, 2008.