The board of directors of IFAD Autos Ltd has decided to raise up to Tk 3.0 billion only in the form of coupon bearing non-convertible fully redeemable bonds with a tenor of five years.
The bond is known as “IFAD Autos Coupon Bearing Bond” to a group of investors, according to an official disclosure on Sunday.
The issuance of the bond, however, is subject to the final approval of the Bangladesh Securities and Exchange Commission (BSEC), said the disclosure.
Each share of the company, which was listed on Dhaka Stock Exchange in 2015, closed at Tk 38.90 on Thursday last.
Its share traded between Tk 38.20 and Tk 115.59 in the past one year.
The board of directors of the company has recommended 10 per cent cash dividend for shareholders (excluding sponsors/directors) for the year ended on June 30, 2019. The annual general meeting will be held on December 12.
The company has also reported earnings per share (EPS) of Tk 4.59, net asset value (NAV) per share of Tk 39.18, and net operating cash flow per share (NOCFPS) of negative Tk 10.51 for the year ended on June 30, 2019 as against Tk. 6.27, Tk. 38.25, and negative Tk 9.82 respectively for the same period of the previous year.
The company disbursed 22 per cent cash and 10 per cent stock dividend in 2018.
The company’s paid-up capital is Tk 2.47 billion and authorised capital is Tk 3.0 billion, while the total number of securities is 247.99 million.
The sponsor-directors own 62.77 per cent stake in the company, institutional investors own 20.06 per cent, foreign investors 4.38 per cent, and the general public 12.79 per cent as on October 31, 2019, the DSE data shows.