BRACBANK Board decision of a Share Purchase - Share market analysis of dhaka stock exchange, Bangladesh
Black
White

Send This Page To Friends and Colleagues

You can Enter more than one email separated by (,)
Allowed 100 characters only
30 April, 2018 03:51 PM Source: Dhaka Stock Exchange

The Company has informed that the Board of Directors of BRAC Bank Limited (the "Company"), the majority shareholder of bKash Limited, have approved the execution of a Share Purchase and Subscription Agreement (the "Agreement"), among the existing shareholders of the Company, viz BRAC Bank Limited, Money in Motion LLC, International Finance Corporation, Bill & Melinda Gates Foundation and Alipay Singapore E-commerce Private Limited ("Alipay"). In accordance with the terms and conditions of the Share Purchase and Subscription Agreement, Alipay shall be entitled to purchase 10% shares from Money in Motion LLC, International Finance Corporation and Bill & Melinda Gates Foundation. Alipay shall also be entitled to subscribe for a further 10% shares in the Company over a period of time as specified in the said Agreement. Alipay upon completion of the transaction as contemplated in the Share Purchase and Subscription Agreement will have 20% shares in the Company on a fully diluted basis. Pursuant to the Agreement, there will be no change to the existing shareholding of BRAC Bank Limited. The Share Purchase and Subscription Agreement and the purchase and acquisition of the shareholding in bKash Limited are subject to customary condition precedents and the necessary regulatory formalities in compliance with the laws of Bangladesh.

 

Add Comment | 0   comment

Readers Comment

Nothing found to display
page number 1

Add Comment

Please login first to comment Click here to login
Advanced Charts
Market Map
Real-Time Market Watch
Order Book Data
Stock Screener
LankaBangla Client Login
CSE iTrading
Trading Game
DSE iTrading

Stocks in Focus


Features for Registered Users

E-mail Alerts
Daily Newsletter
Your Watchlist
Advanced Tools
and
Many more

Will automatically display the last quotes you have visited here.

All Rights Reserved - DUInvest © 2013

Login

Do You have an Account ? , Click here to create a new account

Your Opinion Matters

What do you think about the new Website?