Micro finance lender Sanasa Development Bank PLC yesterday said it received applications for over Rs.2 billion for its listed debenture issue which officially opened yesterday.
The bank last week announced the issue of 20 million rated, guaranteed, redeemable debentures at the par value of Rs.100 with an option to issue up to a further 20 million debentures in the event of an oversubscription of the initial tranche.
The bank yesterday said the initial issue of Rs.2 billion was oversubscribed and the issue would be closed at 4.30 p.m. today (Dec.29th) as per the prospectus.
The bank further said any application received until 4.30 p.m. today (Dec.29th) to the collection points as mentioned in the issue prospectus would be accepted.
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