The financial institution is a joint venture between investors from Hong Kong, Thailand, Vanuatu and Bangladesh. Its foreign and local shareholdings were 61.78 per cent and 38.22 per cent, respectively, as of last December 31.

The company has appointed AAA Consultants and Financial Advisers as manager of the issue. Meanwhile, the Credit Rating Agency of Bangladesh has given it a credit rating of A2.

Previously, the company was rated by Credit Rating Information and Services in 2004 and last year and on both occasions was awarded an A rating.

Bangladesh Bank has also already given permission to float IPO shares worth 50 million taka (Bt25.1 million), and the company has filed an application with Thailand's Securities and Exchange Commission (SEC).

Its share and equity capital stood at 356 million taka as of last December 31.

The IPO will be floated to strengthen the capital market in line with the policy pursued by Bangladesh Bank and the SEC.

The company will issue IPO shares after receiving permission from the SEC during this first half of the year.

GSP Finance currently deals in loan and lease financing for capital machinery, medical equipment, construction equipment, office equipment, marine and road transport, electrical equipment, property development, infrastructure construction, small and medium-sized enterprises and factoring.