After revising the rights offer, the board of directors of BRAC Bank Limited has recommended 1:2 rights shares for the shareholders, meaning one rights share for every two shares in the holding.

The bank offered rights share at an issue price of Tk 20 each including a premium of Tk 10 per share.

Earlier on 20th May last year, the bank had offered 1: 2 rights share at an issue price of Tk 25 each including a premium of Tk 15 a share.

As per the revision, the bank has cut Tk 5 issue price for raising the paid up capital.

Raising paid-up capital is subjected to the approval of general meeting and the regulatory authorities.

The company will organise an AGM at Savar in Dhaka on 9th May, 2013 and the record date for AGM has been set on 7th April.

Another record date for entitlement of the proposed rights shares will be set later on after obtaining approval from the Bangladesh Securities and Exchange Commission (BSEC).