2024-09-12 01:42:26
Published: 19:38, 11 September 2024
The regulatory body Bangladesh Securities and Exchange Commission (BSEC) has approved the issue of shares to increase the paid-up capital of Bangladesh Submarine Cables PLC, a listed company in the telecommunication sector in the capital market.
This decision was taken in the 920th commission meeting held on Tuesday (September 10) under the chairmanship of BSEC Chairman Khandkar Rashid Maqsood.
This information was informed through a press release signed by BSEC Director and Spokesperson Farhana Farooqui on Wednesday (September 11).
According to the notification, the company will issue 2 crore 21 lakh 33 thousand 333 shares in the capital market and withdraw 166 crore taka. For this reason, the price of each share has been fixed at 75 rupees. A premium of Rs 65 will be charged with a face value of Rs 10.
The entire shares issued against the deposit of share money given by the government will be issued in favor of the Secretary of the Department of Posts and Telecommunications of the Ministry of Posts, Telecommunications and Information Technology of the Government of Bangladesh.
With this money, the company will implement the ‘Regional Submarine Telecommunications Project’.
Dhaka/NT/NH