Dhaka, July 14 -- The Bangladesh Securities and Exchange Commission (BSEC) has approved the country's first Initial Qualified Investor Offer (IQIO), clearing footwear manufacturer Royal Footwear PLC to raise Tk 12 crore from qualified investors, in what regulators described as a landmark decision under the commission's new leadership.

The approval came at the 1020th commission meeting held on Tuesday at the BSEC's Agargaon office with its Chairman Masud Khan in the chair, according to a press release.

Under the IQIO, Royal Footwear PLC will issue 1.2 crore ordinary shares at a face value of Tk 10 each to qualified investors, raising a total of Tk 12 crore.

Officials noted this is the first IQIO approved since Masud took charge of the n...