Lankan Alliance Finance Ltd (LAFL), a joint venture non-bank finance company with multinational collaboration, has concluded fundraising for Esquire Accessories Ltd, a leading export-oriented accessories manufacturing company.
As the arranger, LAFL has raised Tk45 crore through the issuance of five-year non-convertible redeemable cumulative preference shares to support the business expansion of Esquire Accessories, reads a press release.
LankaBangla Finance Ltd and Shimanto Bank Ltd are the investors of the preference shares while Dhaka Bank Ltd is appointed as the agent.
“This long-term funding will definitely help us to support our business growth as well as to earn more foreign currency which is very important now for the economy of Bangladesh,” said Md Ehsanul Habib, managing director of Esquire Accessories in a signing ceremony held recently at the corporate head office of Esquire Group.
Also present was the CEO of LAFL, Kanti Kumar Saha, managing director (CC) of Shimanto Bank, Rafiqul Islam, additional MD of Dhaka Bank, Md Abu Jafar, head of Treasury of LankaBangla Finance, Shahanur Rashid, CFO, Wishva Wickramarachchi and other officials of LAFL.
“With this branch, we are going to reach our target customers and offer app-based lending products under a strategic alliance with a foreign partner,” said Jowher Rizvi, chairman of LAFL while inaugurating the branch.
