IFIL Islamic MF draw Oct 26

FE Report

The lottery draw for IPO (initial public offering) of IFIL Islamic Mutual Fund-1 (IFILIMF-1) will be held on October 26 at the National Sports Council, officials said.

The IPO has been oversubscribed by 3.31 times, an official said.

The official said the draw of the mutual fund will start at 10.30 am and the schedule for refund warrants will be announced later.

Among the total units worth Tk 1.0 billion, the IFILIMF-1 will offload the units valued at Tk 500 million in IPO at a face value of Tk 10.0. The mutual funds and non-resident Bangladeshis are allowed to buy the units of Tk 50 million each.

Source: The financial express, 22 October, 2010