Bangladesh's Midland Bank to raise 700M taka in IPO – Financial Express

Midland Bank Ltd. plans to raise 700 million Bangladeshi taka through an initial public offering, The Financial Express reported June 20, citing an interview with Managing Director and CEO Ahsan-uz Zaman.

The public offer of shares is set for the fourth quarter. The Dhaka-based lender will use the proceeds to expand its capital base, according to the report.

Zaman said Midland Bank has obtained the approval of the central bank for the IPO. It is also seeking approval from the Bangladesh Securities and Exchange Commission.

As of June 20, US$1 was equivalent to 84.90 Bangladeshi taka.