The board of directors of IPDC Finance has decided to issue Tk 1.50 billion non-convertible unsecured coupon-bearing subordinated bond with six years tenure.
The bond will be issued through private placement to meet its ongoing financing requirements and future capital adequacy requirement, said the company in a filing with the Dhaka Stock Exchange (DSE) on Wednesday.
The bond issue is subject to approval from the Bangladesh Bank, Bangladesh Securities and Exchange Commission (BSEC), and other relevant regulatory authorities, said the disclosure.
Each share of the non-bank financial institution, which was listed on the DSE in 2006, closed at Tk 26.10 on Tuesday.
Its shares traded between Tk 21.40 and Tk 35.50 in the last one year.
The NBFI’s first quarter (Q1) earnings per share (EPS) stood at Tk 0.55 for January-March 2021 as against Tk 0.40 for January-March 2020.
Its net operating cash flow per share (NOCFPS) was negative Tk 18.09 for January-March 2021 as against Tk 1.98 for January-March 2020.
The net asset value (NAV) per share was Tk 16.52 as of March 31, 2021, and Tk 16.34 as of December 31, 2020.
The company disbursed 12 per cent cash dividend for the year ended on December 31, 2020.
Its paid-up capital is Tk 3.71 billion, authorised capital is Tk 8.0 billion and the total number of securities is 371.09 million.
The sponsor-directors own 48.04 per cent stakes in the company, while the government owns 21.88 per cent, institutional investors own 17.29 per cent, foreign investors 2.27 per cent and the general public 10.52 per cent as of May 31, 2021, the DSE data shows.