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IDLC Finance to issue Tk 5.0b zero coupon bonds

| Updated: October 07, 2020 14:33:45


- Picture used for representational purpose - Picture used for representational purpose

The board of directors of IDLC Finance Ltd has decided to issue unsecured non-convertible zero coupon bonds worth Tk 5.00 billion with four years tenure (in face value).

The country’s one of the leading non-bank financial institutions will issue the bond only through private placement, according to an official disclosure on Sunday.

The bond issuance is also subject to the approval of the regulatory authorities — Bangladesh Bank (BB) and Bangladesh Securities and Exchange Commission (BSEC).

Each share of the company, which was listed on the Dhaka Stock Exchange (DSE) in 1992, closed at Tk 57.40 on Thursday last.

Its share traded between Tk 35 and Tk 60 in the last one year.

The company disbursed 35 per cent cash dividend for the year ended on December 31, 2019.

The company’s paid-up capital is Tk 3.77 billion and authorised capital is Tk 10 billion, while the number of securities is 377.05 billion.

The sponsor-directors own 56.66 per cent stake in the company, while institutional investors own 21.24 per cent, foreign 11.34 per cent and the general public 10.76 per cent as on August 31, 2020.

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