International Leasing and Financial Services Ltd (ILFSL) will raise capital through issuing ordinary shares against loan and deposit liability under Bangladesh Securities and Exchange Commission (BSEC).
The financial institution has signed an agreement to this effect with Sonar Bangla Capital Management Ltd (SBCML), which will offer the ILFSL corporate advisory and issue management services under the agreement.
ILFSL Managing Director (CC) Md Mashiur Rahman and SBCML Managing Director and Chief Executive Officer Emam Hossain signed the agreement on behalf of their respective institutions at ILFSL head office in the capital on Wednesday. ILFSL Chairman Md Nazrul Islam Khan, Members of Board of Directors Syed Abu Naser Bukhtear Ahmed, Md Shafiqul Islam, Md Meftaul Karim, Md Ashraf Ali and Md Enamul Hasan, SBCML Additional Managing Director Sheikh Mosadeq Kabir, Issue Manager Mustafizur Rahman and Senior Officer Md Emrul Hasan, and other senior officials of both the sides were present at the signing ceremony.
Earlier, ILFSL Board of Directors approved the draft agreement to be singed for issuance of share out of existing liability in the form of deposit and loan liability of the company subject to completion of due process approved by all regulatory authorities.