Alliance Finance Dhaka gearing for IPO, grow sustainable financing
People’s Leasing Company PLC’s Bangladeshi subsidiary, Alliance Finance PLC is eyeing a public listing in the Bangladeshi Dhaka Stock Exchange with midterm plans to expand in sustainable financing.
Kanti Kumar Saha, CEO Alliance Finance PLC in an interview with the Business Times in Dhaka recently said that an IPO is mandatory for an entity like them according to the Bangladeshi law. “It is a requirement under the law that we publicly list after the third year of operation but due to the pandemic we got an extension from the regulator.”
Having started five years ago, the company has a clean portfolio and is doing better than the industry, which didn’t grow compared to the preceding year, he added.
Alliance Finance’s customer base includes firms in pharmaceuticals, food, power sector, steel manufacturing, furniture manufacturing etc. Mr. Saha said that the company received permission to start a booth at a residential area in Dhaka. Amongst the mid to long term plans, the company wants to expand in refinancing schemes of sustainable financing to support reducing carbon emission and climate protection.
Alliance Finance through its structured finance department arranges large project financing, Mr. Saha added.
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