Export-oriented footwear manufacturer Legacy Footwear is planning to enter the domestic market by extending its plant, for which the company seeks funds from investors.

Media reports maintained this adding Legacy Footwear has already sought approval from the BSEC or Bangladesh Securities and Exchange Commission to increase its paid-up capital by Taka 30 crore through issuing a convertible bond even as speaking to the media, Managing Director of Legacy Footwear Quazi Rafi Ahmad, reportedly, said to start footwear business in the local market the company requires further investment.

“…so, we have applied to the regulator for raising funds from the capital market,” reportedly, underlined Quazi Rafi Ahmad while adding Legacy Footwear wants to raise capital without issuing the right shares even as the BSEC has advised the company to apply for a convertible bond, which at the end of the bond’s tenure, will be converted into shares and added to the paid-up capital as per the MD of Legacy Footwear.