Dhaka, May 28 -- Rights shares subscription of Berger Paints Bangladesh is set to begin July 15, aiming to raise Tk 3.03 billion through rights issuance.

The subscription period for the multinational paints manufacturer will continue until August 3 this year.

The record date for entitlement of rights shares has been fixed on June 29, according to a price sensitive information published on Wednesday.

The rights shares issue is an offer of new shares by a company to its existing shareholders in proportion to the shares they already own and usually at a discount to market price within a specified time.

The Bangladesh Securities and Exchange Commission (BSEC) on Tuesday allowed the company to raise the said amount by issuing 2.73 million ...