The New Nation - Internet Edition

BUSINESS REPORT

Share trading of the Grameen Two Mutual Fund begins simultaneously on the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) from today (Tuesday).

"We have approved the listing application of the mutual fund and set September 2 for the start of trading of its shares," said Salahuddin Ahmed Khan, chief executive officer of the Dhaka Stock Exchange, after a DSE board meeting on Sunday.

Chittagong Stock Exchange general manager Md Atiquzzaman said, "Share trading of Grameen Two will start on the CSE simultaneously with the DSE."

The Tk 125 crore mutual fund issued 15.34 lakh units for general public to raise Tk 15.34 crore. The face value of each unit of the Grameen Two is Tk 10.

The initial public offering (IPO) of the mutual fund was oversubscribed by 17.75 times.

Earlier the fund allocated Tk 16.66 crore worth of units through entitlement under private placement to the existing unit-holders of the Grameen One Mutual Fund.

On May 13, the Securities and Exchange Commission gave consent to the Grameen Two Mutual Fund, second scheme of the Grameen One Mutual Fund, for floating the IPO.

Grameen Fund is the trustee, Standard Chartered Bank the custodian, and Grameen Bank the sponsor of the mutual fund.

Grameen Two will be the 17th mutual fund to be traded on the country's capital market.

Currently, a total of 16 mutual funds are traded on the bourses. Of them, ICB and its subsidiaries have floated 13 mutual funds while BSRS and private sector companies Aims and Grameen have one each.