The bank has decided to float 50 per cent of its shares in the capital market. A total of 4.5 lakh applications were submitted against the one lakh unit of shares. 50 shares make a unit.

The paid up capital of the bank is Tk 100 crore while the Bangladesh Bank has allowed the bank to collect Tk 80 crore from the capital market.

Earlier, the bank offered 50 lakh of shares through the IPO.

The face value of each share was fixed at Tk 100, while every share was sold at Tk 170 including Tk premium.

80 percent of the shares were distributed among resident Bangladeshis, 10 percent went to non-resident Bangladeshis (NRBs) while the rest 10 percent shares were allocated for mutual fund.

"The difference between Brac Bank and other banks is that we have invested 53 per cent of our capital for the development of small entrepreneurs while we provide loans to small entrepreneurs without any collateral interest," Fazle Hasan Abed, chairman of Brac Bank, said at the function.

In the next 10 years, the bank would go for operation in China and India and emerge as a global bank, he further said.

Imran Rahman, managing director and chief executive officer of the bank, also spoke on the occasion.