Stocks
IDLC Finance Ltd to issue Tk500cr bond
The board of directors of IDLC Finance Ltd has approved the issuance of a Tk500 crore zero-coupon bond for a tenure of 2 years.
The nature of the bond is unsecured and non-convertible, stated the company disclosure on the Dhaka Stock Exchange (DSE) website on Tuesday.
Now, the bond issuance is subject to the approval of the regulatory authorities – the Bangladesh Bank and the Bangladesh Securities and Exchange Commission (BSEC).
A zero-coupon bond is simply a discount bond that is originally sold at a discount from its face value instead of periodic dividend payments or interests. Face value is the amount paid to the bondholders at maturity.
IDLC Finance reported a consolidated net profit of Tk91.87 crore during the first half of this year, which was 11% lower compared to the same period of the previous year.
The non-bank financial institution, in its financial disclosure, said the decrease in net profit was due to declines in investment income and income from commission, exchange, and brokerage.
In the first half of 2022, the company’s consolidated earnings per share (EPS) stood at Tk2.21 and the consolidated net asset value (NAV) per share was Tk41.17.
Last year, its net profit was Tk211.60 crore and EPS was Tk5.34.
IDLC Finance paid 15% cash and 5% stock dividends to its shareholders for the financial year 2020.
The company listed with the DSE in 1992. Its paid-up capital is Tk415.69 crore.
Of the total shares of IDLC Finance, sponsors and directors jointly own 56.66%, institutional investors 26.62%, foreign investors 2.40%, and general investors 14.32%.
The closing price of each company share was Tk49.90 on Tuesday at the DSE.
Dhaka Stock Market DSE, Bourse on the second working day of the week, 30th September, ended with a negative performance in Indices and a hike in Turnover from the previous working session. This information is known from DSE sources.
503 crore 90 lakh taka shares were traded on this day. 22 crore 58 lakh more tradings were done in DSE today compared to the previous workday, 29th September, Shares worth Tk 481 crores 31 lakh shares were traded last time, Sunday.
The benchmark DSEX lost 33.61 points or 5,624 The Shariah-based index DSES dropped 7.36 point or 1,263 and the blue-chip index DS30 decreased by 9.57 points or 2,053.
Of the issues traded, 72 advanced, 299 declined and 25 remained unchanged.
Shahjibazar Power Company Limited ranked top gainer on DSE, the share price increased by Tk 4.00 paisa or 9.76 percent. On this day, the share was last traded at Tk 45.00 paisa.
Dhaka Electric Supply Company Limited ranked top loser on the DSE, the share price dropped by Tk 1.80 paisa or 7.56 percent. On this day, the share was last traded at Tk 22.00 paisa.
DSE topped on trade is Pragati Life Insurance Limited 25 crore 35 lakh takas of company shares have been traded.
A total of 27 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 1 crore 50 lakh 42 thousand 956 shares of the companies were traded. The financial value of which is 65 crore 60 lakh taka
One of the Listed companies, National Polymer Limited has recommended 10.50% Cash Dividend for the year ended June 30, 2024.
It has reported Consolidated EPS of Tk 2.27 paisa, and Consolidated NAV per share of Tk 30.63 for the year ended March 31, 2024.
The Annual General Meeting (AGM) of the company will be held on December 18, through the digital platform. The record date for this has been fixed at October 22.
The Company also discloses its financial reports for the second quarter, (April – June 24).
As per the company’s consolidated life revenue account for April to June 2024, the excess of total income over total expenses, including claims (surplus), stood at Tk 1,394.24 million. This marks a significant increase from the surplus of Tk 823.68 million during the same period in 2023.
For the first half of 2024, from January to June, the company reported a surplus of Tk 2,177.57 million, compared to Tk 1,290.39 million in the corresponding period of the previous year.
Additionally, the Life Insurance Fund balance as of June 30, 2024, reached Tk 55,188.62 million, showing a net increase of Tk 5,892.25 million from Tk 49,296.37 million on June 30, 2023.
One of the Listed companies, Beacon Pharmaceuticals PLC has recommended 20% Cash dividend and 10% Cash Dividend to Sponsor Shareholder and Directors for the year ended June 30, 2024.
It has reported EPS of Tk 2.26 paisa, and NAV per share of Tk. 26.37 for the year ended June 30, 2024.
The Annual General Meeting (AGM) of the company will be held on December 23, through the digital platform. The record date for this has been fixed at October 27.
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