NRB Bank makes market debut on a high note
Shares in the private sector lender soar 10% on the maiden trading session
NRB Bank commenced its capital market trading on a high note, with its shares soaring by 10% - the highest limit of a single day - on the first day at the country's premier bourse.
The fourth-generation private sector lender, with the majority of its shares owned by non-resident Bangladeshis, has entered the stock market by raising Tk100 crore, with each share having a face value of Tk10.
According to the Dhaka Stock Exchange (DSE), the newly listed stock opened trading at Tk11 per share on Tuesday but remained almost without sellers throughout the session.
Keep updated, follow The Business Standard's Google news channel
Prior to its debut, NRB Bank officials signed a contract with both the DSE and the Chittagong Stock Exchange (CSE) for listing.
At the contract signing ceremony held at the Dhaka bourse, DSE's Chief Regulatory Officer Khairul Bashar Abu Taher Mohammed and Md Shakir Amin Chowdhury, acting managing director and CEO of the bank, represented their respective sides and finalised the deal.
According to a press release issued by CSE, NRB Bank commenced trading at the port city bourse today. To mark this occasion, the stock exchange organised an inaugural function at its Dhaka office.
During the event, CSE Managing Director M Saifur Rahman Majumdar, in his welcome speech, highlighted that with the listing of NRB Bank, the number of banks in the capital market has risen to 35.
"The bank has always been a trusted and reliable institution for investors. NRB Bank will continue to operate with this trust and integrity," he expressed his hope.
Mohammed Mahtabur Rahman, chairman of the bank, said, "We are committed to reflecting the confidence and trust of the capital market and its investors."
