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City Bank Capital issue manager for Tk 3,000cr Beximco sukuk


City Bank Capital issue manager for Tk 3,000cr Beximco sukuk
Star Business report
Star Business report
Beximco Ltd has appointed City Bank Capital Resources Ltd as the issue manager as it looks to raise Tk 3,000 crore by issuing sukuk.
This will be the largest sukuk issuance in the private sector in Bangladesh.
A sukuk is an Islamic financial certificate, similar to a treasury bond and structured to generate returns in compliance with Islamic finance principles.
Bangladesh entered the sukuk era on December 28 when the central bank held its first-ever auction for the Islamic bond. The government is raising Tk 8,000 crore through the issuance of the sukuk to implement a safe water supply project. ....

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Beximco stocks fall despite Tk3,000cr Sukuk plan


Beximco stocks fall despite Tk3,000cr Sukuk plan
Star Business Report
Star Business Report
Stocks of Beximco Limited dropped 1.64 per cent to Tk 84 yesterday despite the company s announcement that it would issue Sukuk bonds worth Tk 3,000 crore.
The listed multinational conglomerate informed its investors about the bond through a disclosure published on the website of Dhaka Stock Exchange (DSE).
Beximco will issue the bonds in order to finance solar projects and expand its textile factory.
DSEX, the benchmark index of the country s premier bourse, was also reluctant to move following the announcement as it dropped 20 points, or 0.36 per cent, to stand at 5,488. ....

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Stocks ride on increased liquidity | The Daily Star


Dhaka stocks are soaring like other major markets which are hovering around all-time highs.
The reason, analysts said, is a global availability of liquidity, including in Bangladesh.
The S&P index of the US now stands at a record 3,841 points while the Dow Jones is also at an all-time high with 30,996.
Similarly, Nasdaq reached a personal best of 13,543 points.
Meanwhile, Dhaka Stock Exchange (DSE) witnessed its highest-ever market capitalisation on January 14.
The DSEX, the benchmark index of the DSE, also touched 5,900 points last week and remains in a positive trend. Its all-time high is 6,336 points.
However, the local stock market is practically disconnected from the rest of the world, according to Shahidul Islam, chief executive officer (CEO) of VIPB Asset Management Company. ....

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