Popular Life First Mutual Fund has released its IPO in the Bangladeshi capital market. It is available from today and will continue up to 26 August. The Fund shall make Public Offer (PO) for 100,000,000 units of Taka 10/- each at par worth Taka 100.00 (hundred) crore following the under the Securities and Exchange Commission (Public Issue) Rules, 2006,the regulations issued thereunder. The prospectus/abridged version of the prospectus as vetted by SEC, shall be published in two widely circulated national daily newspapers (Bangla and English) within 10 (Ten) days of receipt of the approval letter. Provided that information relating to publication of prospectus in the form of advertisement be published in two national daily newspapers (Bangla and English). Sufficient copies of prospectus shall be made available by the Asset Management Company so that any person equesting a copy may receive one. A notice shall be placed on the front of the application form distributed in connection with the offering, informing that interested persons are entitled to a prospectus, if they so desire, and that copies of prospectus may be obtained from the Asset Management Company. The subscription application shall indicate in bold type that no sale of securities shall be made, nor shall any money be taken from any person, in connection with such sale until 25 (twenty five) days after the prospectus has been published. The Asset Management Company shall ensure transmission of the prospectus and relevant application forms for NRBs through e-mail, simultaneously of publication of the prospectus, to the Bangladesh Embassies and Missions abroad, as mentioned in the prospectus, and shall also ensure sending of the printed prospectus and application forms to the said Embassies and Missions within 5 (five) working days of the publication date by express mail service (EMS) of the postal department. A compliance report shall be submitted in this respect to the SEC by the Asset Management Company within 3 (three) working days from the date of said despatch of the prospectus & the forms. The paper clipping of the published prospectus/abridged version of the prospectus and all other published documents/notices regarding the Fund shall be submitted to the Commission within 24 (twenty four) hours of publication thereof. The Asset Management Company shall submit 40 (forty) copies of the printed prospectus, along with a diskette/CD prepared in “MS WORD” containing the prospectus and its abridged version, as vetted by SEC, to the Securities and Exchange Commission for official record within 5 (five) working days from the date of publication of the prospectus in the newspaper.The Asset Management Company shall maintain a separate bank account for collecting proceeds of the Public Offering and shall also open FC account(s) to deposit the application money of the Non-Resident Bangladeshis (NRBs) for Public Offer purpose, and shall incorporate full particulars of said FC account(s) in the prospectus. The company shall open the abovementioned accounts for Public Offer purpose; and close these accounts after refund of over-subscription. “NRB means Bangladeshi citizens staying abroad including all those who have dual citizenship (provided they have a valid Bangladeshi passport) or those, whose foreign passport bear a stamp from the concerned Bangladesh Embassy/High Commission to the effect that no visa is required to travel to Bangladesh”. Subscription shall start after 25 (twenty five) days from the date of publication of the prospectus for both NRBs and resident Bangladeshis. Subscription will remain open for 5 (five) consecutive banking days. Application shall be sent by the NRB applicants directly to the Asset Management Company within the closing date of the subscription so as to reach the same to the Asset Management Company by the closing date plus 9 (nine) days. Applications received by the Asset Management Company after the abovementioned time period will not be considered for allotment purpose.
Date range: 22 August, 2010 to 26 August, 2010 (09:00 AM to 04:00 PM)
Venue: Bankers to the issue as mentioned in application From Paltan Community Center, Palton, Dhaka-1000.
For Non-Resident Bangladeshi’s subscription closes on 04 September , 2010 (By Post office/Courier service only).
Subscription sent by Post/Courier will be received in the Company’s Head office only.
Download Resident Form
Download Non-Resident Form