UCB Investment Limited held the closing ceremony of Fair Electronics Preference Share at Sheraton Hotel in the capital on Wednesday (22 June).
UCB Investment Limited is the Mandated Lead Arranger and Agent of this issuance.
Fair Electronics Limited has recently raised Tk2,000 million from six different banks by issuing non-convertible, cumulative and redeemable preference shares to maintain sustainable business growth, said a press release.
Fair Electronics Limited is the manufacturer and one of the distributors of Samsung Electronics in Bangladesh.
Ruhul Alam Al Mahbub, chairman and managing director of Fair Electronics Limited, Arif Quadri, managing director and CEO of United Commercial Bank Limited, Tanzim Alamgir, managing director and CEO of UCB Investment Limited, Md Ahsan-uz Zaman, managing director and CEO of Midland Bank Limited, Golam Awlia, managing director and CEO of NRB Commercial Bank Limited, Md Monzur Mofiz, managing director of ONE Bank Limited, Md Khalid Mahmood Khan, deputy managing director of Mutual Trust Bank Limited, and Muhammad Nurul Afsar, SVP and chief financial officer of NRB Bank Limited were present in the event.
Other senior officials from respective organisations were also present to celebrate this auspicious moment.
Preference share is an alternative financing instrument, through which issuer is able to fix a rate for a longer tenure as well as to provide lucrative after tax returns to the investors. Mostly blue-chip companies issue such instruments.