Union Bank Limited IPO Share Allotment Result 2022

Union Bank Limited IPO Share Allotment Result 2022. Union Bank IPO Share Allotment List & Information 2022. Union Bank Limited IPO Subscription 26 December 2022. Union Bank Limited is the 4th generation leading commercial bank in Bangladesh. The main activities of the Bank are to provide a comprehensive range of financial services, personal and commercial banking, trade services, cash management, treasury operation, security and custody services Etcetera of Bangladesh. The Company is going to start its Initial Public Offer (IPO) subscription on 26 December 2022 this year. BO Account holders may apply for primary shares of the company until 30 December 2022. IPO share allotment list will be updated and found here timely.

IPO Share Allotment Result List of Union Bank Limited Click Latest

Union Bank’s IPO will be the largest IPO in the banking sector to date. Among all sectors, it will be the fourth-largest IPO after Robi Axiata (Tk 5.23 billion), Grameenphone (Tk 4.86 billion), and Mobil Jumana Limited (MJL) Bangladesh (Tk 4.60 billion), according to DSE information. Union Bank Limited Incorporated (Inc. no. C-107837) on March 07, 2013, as a Public Limited Company under the Companies Act, 1994 (Act No.18 of 1994) and also is governed by the Bank Company Act, 1991 (Amendment up to 2018).

Union Bank Limited IPO Information Details

Union Bank Limited has got consent from BSEC to get enlisted in the share market of Bangladesh under the fixed price method. Bangladesh Securities and Exchange Commission (BSEC) has approved the prospectus for the Initial Public Offering (IPO) to raise Tk. 428 crores from the capital market through the Fixed Price method. Bangladesh Securities and Exchange Commission (BSEC) has approved the initial public offering (IPO) of Union Bank Limited at their regular commission meeting held on September 05, 2021.

The Company shall go for Initial Public Offer (IPO) for 42,80,00,000 ordinary shares of Tk. 10.00 each from the capital market under the fixed price method. The bank will utilize the IPO proceeds for purchasing government securities, investing in the stock market, financing in SME and other projects, and IPO expenses.

Each general public, including non-resident Bangladeshi, should maintain a minimum investment of Tk 20,000 at market price in matured listed securities as of December 15 for applying for its IPO.

The minimum and the maximum amount allowed for subscription for the general public would be Tk 10,000.

Each eligible investor who intends to submit an application should maintain a minimum investment of Tk 10 million as of December 15 while the amount would have to be Tk 5.0 million for pension funds, recognized provident funds, and gratuity funds. The maximum amount allowed for a subscription for an eligible investor is Tk 21.40 million.

Financial Information of Union Bank Limited

The bank has reported net asset value (NAV) per share of Tk 16.38 (without revaluation reserve) and earnings per share (EPS) of Tk 1.77 for the year ended on December 31, 2020. The weighted average EPS of five years was Tk 1.82. The bank’s pre-IPO paid-up capital is more than Tk 5.58 billion and authorized capital is Tk 10 billion.

Prime Bank Investment and BRAC EPL Investments are jointly working as the issue manager of Union Bank Limited for its IPO process. The company will Use of IPO Proceeds for purchasing government securities, investing in the stock market, financing in SME and other projects, and IPO expenses according to the IPO prospectus.

Union Bank Financial Information

As per the company’s audited financial report for the year ended on December 31, 2020, the net asset value per share was Tk 16.38 (without revaluation reserve) and earnings per share (EPS) of Tk 1.77.

Confirmation If Your IPO Application is Deposited or Not? Check the Consolidated Application List Click Here

You can check your IPO Application (Union Bank Limited) which Subscription Open December 26, 2021, and Close date December 30, 2021) is CORRECTLY deposited or not. Check by the link below:

CHECK CONSOLIDATED APPLICATION LIST

No Lottery IPO begins with Pro-Rata Basis Share Allotment System Click Details

No lottery IPO system begins with Baraka Patenga Power Limited. The distribution of a company’s initial public offering shares on a pro-rata basis instead of the lottery will commence with the Sonali Life Insurance Company Limited’s IPO share subscription.

Union Bank Pro-Rata Basis Share Allotment List 2022

Download Union Bank Limited IPO Pro-rata basis allotment List from here. After the ending of application of the Initial Public Offer (IPO) from December 26, 2021, to 30 December 2021, South Bangla Agriculture & Commerce Bank Limited IPO share allotment on 2022. Place: IPO share allotment of Union Bank Limited performed in 2022. The IPO Share allotment was also published on the websites of the Dhaka Stock Exchange (DSE), Chittagong Stock Exchange (CSE), and the company’s website after the end of the program. See the share allotment list below.

Click the following Link to get Union Bank IPO Share Allotment

  1. General Public/Resident Bangladeshi
  2. Non-Residence Bangladeshi(NRB)
  3. Affected Small Investor
  4. Union Bank All Eligible Investor Share Allotment List (Pro-Rata Allotment)

You can also download the Union Bank Limited IPO Share Allotment from Dhaka Stock Exchange (DSE) original website http://www.dsebd.org/ipo_lottery_result.php

You can also get the result from the official website of Union Bank Limited IPO Share Allotment i.e.  www.unionbank.com.bd

Prospectus of Union Bank Limited

The below prospectus has been described as the overall information of the company. Sector: Banking

Union Bank Executive-Summary

Union Bank Limited
(Subscription Open: December 26, 2021, Close: December 30, 2021)

Nature of Business: Banking service is the nature of business of the Union Bank Ltd. The principal activities of the Bank are to provide a comprehensive range of financial services, personal and commercial banking, trade services, cash management, treasury operation, security and custody services Etc.

Security Trading Code: UNIONBANK

Subscription Open: December 05, 2021

Subscription Close (Cut-off Date): December 30, 2021

Authorized Capital: BDT 10,000,000,000

Pre-IPO paid-up Capital: BDT 5,589,337,600

IPO size in shares: 428,000,000

IPO size in BDT at face value: BDT 4,280,000,000

IPO size in BDT at offer price: BDT 4,280,000,000

Post IPO Paid-up Capital: BDT 9,869,337,600

Face Value per share: BDT 10.00

Offer Price per share: BDT 10.00

NAV per share: BDT 16.38 as of December 31, 2020.

Earning Per Share: BDT 1.77 as of December 31, 2020

Issue Manager: 1. Prime Bank Investment Limited & 2. BRAC EPL Investments Limited.

Auditor: K. M. Hasan & Co. (Chartered Accountants)

Website: www.unionbank.com.bd

Click below to Download Prospectus of Union Bank Limited

Eligibility for Participating IPO from April 01, 2021 Details Here

Eligibility for Participating in an IPO from April 01, 2021 Details below:

General investors must have at least Tk. 20,000 in investment in the stock market to be eligible for participating in any IPO Share in the listed securities (matured securities) at market price (the close price of both Exchanges whichever is higher) as on the end of a working day which is immediately preceded by 5 (five) working days from the first day of starting the subscription and the minimum value of each application by a general investor for IPO subscription must also be Tk. 10,000.

Institutional investors with a minimum of Tk. 1 crore investments in stocks can subscribe to the shares of the company through the electronic subscription system.

Institutional investors of recognized pension funds and provident funds with a minimum of Tk. 50 lac investment in stocks will also be able to subscribe to the shares in the same way.

Nature of Business of Union Bank Limited Click Here

Union Bank Limited provides all kinds of commercial banking services following the principles of Islamic Shari’ah and the provisions of the Bank Company Act 1991. The bank renders commercial banking services to all types of customers. The range of services offered by the bank includes accepting deposits, making investments, discounting bills, conducting domestic and international money transfers, carrying out foreign exchange transactions in addition to international money transfers, and offering other customer services such as safekeeping, collections, and issuing guarantees, acceptances, and letters of credit. The core business of the bank includes deposit mobilization and investing activities comprising short-term, long-term, import, and export financing.

DEPOSIT PRODUCTS:

At Union Bank, have designed various deposit accounts to service all your different needs.

Al Wadiah Current Deposit Accounts

Mudaraba Savings Account (MSD)

Mudaraba Term Deposit (MTD)

Mudaraba No Frill Savings Account

Mudaraba Short Notice Deposit Accounts (MSND)

Brief Description of the Company (Union Bank Limited)

Union Bank Limited (A Shari’ah Based Bank) was incorporated on March 07, 2013, as a Public Limited Company under the Companies Act, 1994 with Authorized Capital of Tk. 10,000 million and paid-up capital of Tk. 4,280 million with a vision to become a socially committed world-class financial institution. The bank started its journey on 01 April 2013 after getting permission from Bangladesh Bank vide memo No. BRPD (P3)/745(60)/2013-1122 dated 10 March 2013 as a Shari’ah-based scheduled Bank and started its banking operation in the banking sector on May 20, 2013, by opening Gulshan Branch. Union Bank Limited has expanded its operation all over the country in the spirit of Islami Shari’ah. The Bank through its Branches provide a diverse range of financial services and products in Bangladesh with the mission of emancipating the poor people from abject poverty, being a leading provider of Islamic Shari’ah compliant banking services, providing fast, accurate, and satisfactory customer services, and ensuring technology-based professional banking environment with strong capital base.

Branches: Union Bank Limited operates 96 Branches, 23 Sub Branches and 09 Polli Biddut Collection Booths all over the country.

Banking service is the nature of business of the Union bank. Union Bank Ltd. is a Scheduled Private Commercial Bank licensed under the Banking Companies Act 1991 (amended up to 2018). The principal activities of the Bank are to provide a comprehensive range of financial services; personal and commercial banking, trade services, cash management, treasury operation, security, and custody services.

Registered & Corporate Office of Union Bank Limited

Union Bank Limited

Registered, Corporate & Head Office:

Bahela Tower, 72, Gulshan Avenue, Gulshan -1, Dhaka-1212,
Bangladesh.

Website: www.unionbank.com.bd

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IPO Latest Update Information 2022

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