AIBL CML signs deal with Rani Re-Rolling

AIBL Capital Management Ltd. (AIBL CML) a full-fledged merchant bank and a subsidiary company of Al-Arafah Islami Bank Ltd. will work as Manager to the Issue to manage the IPO of Rani Re-Rolling Mills Ltd.

An Issue Management and Corporate Advisorry Service agreement was signed in this regard between the two companies on April 01, 2015 in the Board Room of Al-Arafah Islami Bank Ltd. Head Office. Rani Re-Rolling Mills Ltd. (RRM) – a leading steel and re-rolling mill of the country has decided to float shares through IPO to raise capital for financing its diversification and expansion program.

Md. Golam Sarwar Bhuiyan, CEO of AIBL CML and Sumon Chowdhury, Managing Director of Rani Re-Rolling Mills Ltd. signed the agreement on behalf of their respective organizations. Chairman of the Bank Badiur Rahman, Managing Director Md. Habibur Rahman, Deputy Managing Directors Md. Rezaur Rahman, Kazi Towhidul Alam, Mohammad Abdul Jalil, Md. Fazlul Karim, Executive Vice President Mohammad Nadim, Cheaf Executive of Rani Re-Rolling Mills Ltd. S. K. Sahoo, Head of HR Mahmud Alam and Head of Accounts Shahidul Islam were also present on the occasion.

The Rani Re-Rolling Mills is a concern of RRM Group, engaged in the production of TMT Bars for construction sector by adopting latest technology that saves natural resources.