Muhiuddin Khan Alamgir
Viewed as a blot in Bangladesh’s financial sector, Padma Bank is back into sharp focus after its current management traded charges with founding chairman Muhiuddin Khan Alamgir who points the finger at his successor Chowdhury Nafeez Sarafat. );
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After receiving the complaints, Bangladesh Securities and Exchange Commission says it will look at the charges ranging from abuse of office and embezzlement of money.
Dogged by loan scam and irregularities, the ownership and management of The Farmers Bank changed in 2018 before it was rechristened Padma Bank the following year apparently to restore its image.
MK Alamgir, a former home minister, now says incumbent Chairman Sarafat invested Tk 1 billion of the bank in a fund which is “in breach of rules”.
Synopsis
The shares will be priced at no more than HK$295 per share for retail shareholders and represent 3.4 per cent of the company s total shares, it said in documents sent to the Securities and Exchange Commission.
The final price for Baidu s shares will be set on March 17 and trading will begin on the Hong Kong market on March 23, it says.
HONG KONG: Chinese search engine company Baidu Inc is looking to raise up to $3.03 billion by selling 95 million shares as books opened on Thursday for its Hong Kong listing, a filing from the company showed. The shares will be priced at no more than HK$295 per share for retail shareholders and represent 3.4 per cent of the company s total shares, it said in documents sent to the Securities and Exchange Commission.
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