General Investors Subscribe 56% of Beximco Green-Sukuk Al Istisna Public Offer

The BDT 7,500 million public offer of Bangladesh-based Beximco Limited (Beximco)’s Green-Sukuk Al Istisna was only about 56% subscribed by general investors. The Sukuk was slated as the very first asset-backed securities by the private sector in Bangladesh.

Why it Matters?

Beximco obtained approval from the Bangladesh Securities and Exchange Commission (BSEC) to launch BDT 30,000 million worth Sukuk for a five-year term of which BDT 7,500 million was offered to the public. The offer which was open for a week from the 17th of August to the 23rd of August 2021 was later extended to the 30th of September 2021 but was subscribed only up to BDT 4,220 million. It was noted that the underwriter would subscribe 20% of the public offer. Classified as a g...