Beximco to issue Sukuk for Tk 30b

​Bangladesh Export Import Company Ltd is going to initiate the issuance of Islamic Shahriah compliant Sukuk Al Istisna for Tk 30 billion.

The decision came from the extra-ordinary general meeting of the company held virtually on Wednesday, said a release.

This initiative is for the purpose of construction of the solar projects of Teesta Solar Ltd and Korotoa Solar Ltd— the two subsidiaries of Beximco Power Company Ltd and financing— and refinancing the machinery and equipment required for expansion of Beximco Ltd’s textile division on the following terms and conditions, subject to the approval of the Bangladesh Securities and Exchange Commission.

The meeting was presided over by Salman F Rahman, vice-chairman of the company, where, among others, Iqbal Ahmed, OK Chowdhury, AB Siddiqur Rahman, Reem Shamsuddoha, Masud Ekramullah Khan, Shah Monjurul Hoque, directors, and Mohammad Asad Ullah, executive director and company secretary, were present.

Beximco shareholders unanimously approved the initiation at the meeting.

SOURCE: ​newagebd