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NEWS in brief

Quasem Industries' business halts for FR Tower fire

Quasem Industries is currently unable to carry out business transaction and regular activities because of the recent fire a! its head office at the FRTower in Dhaka.

The company informed investors about the development through a posting on the Dhaka Stock Exchange's website yesterday. The company will notify the investors once the operation of the head office is restored. Its stocks rose 2.67 percent on the day.

IDLCsTk 255cr zero coupon bond gets nod

The Bangladesh Securities and Exchange Commission (BSEC) has approved a proposal of IDLC Finance, which is seeking to raise Tk 255 crore by issuing non-convertible zero coupon bond.

The tenure of the fully redeemable, unsecured, and nonlisted bond will be seven years. The proceeds will be used to strengthen the non-bank's liquidity situation. The offei price will be Tk 10 lakh per unit.