Bangladesh, Aug. 14 -- City Group plans to raise around Tk 15 billion from the secondary market at a time when it is heavily burdened with bank loans, straining its capacity to continue operations.

Advertisement The proposed fundraising is expected to take place over the next 12 to 18 months on a best-effort basis, subject to applicable laws and regulations, regulatory approvals, and market conditions.

To this effect, City Group on Wednesday signed an agreement with LankaBangla Investments to facilitate the fund collection as an issue manager.

The instruments for raising capital may include an Initial Public Offering (IPO), private equity, preference shares, corporate bonds, Sukuk and/or other permissible capital market vehicles.

As ...