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 Exchange DSE, Bourse on the last working day of the week, April 25th, ended with a massive drop in Indices and Turnover from the previous working session. This information is known from DSE sources.
511 crore 43 lakh taka shares were traded on this day. 91 crore 31 lakh less tradings were done in DSE today compared to the previous workday, 23rd April , Shares worth Tk 602 crores 74 lakh shares were traded last time, Wednesday.
The benchmark DSEX lost 60.48 points or 5,518 The Shariah-based index DSES dropped 12.29 points or 1,217, and the blue-chip index DS30 decreased by 10.17 points or 1,974.
Of the issues traded, 69 advanced, 300 declined and 27 remained unchanged.
ADN Telecom Limited ranked top gainer on DSE, the share price increased by Tk 9.60 paisa or 8.66 percent. On this day, the share was last traded at Tk 120.50 paisa.
Bata Shoe Company Bangladesh Limited ranked top loser on the DSE, the share price dropped by Tk 36.9 paisa or 3.77 percent. On this day, the share was last traded at Tk 941.00 paisa.
DSE topped on trade is Orion Infusion Limited 31 crore 69 lakh takas of company shares have been traded.
A total of 35 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 26 lakh 36 thousand 734 shares of the companies were traded. The financial value of which is 16 crore 61 lakh taka
One of the Listed companies, Bangladesh National Insurance Company Limited has recommended 20% Cash Dividend for the year ended December 31, 2023.
In terms of financial performance, The Company has also reported EPS of Tk. 4.04 for the year ended December 31, 2023. The Company has also reported NAV per share of Tk 26.28 paisa for the year ended December 31, 2023.
The Annual General Meeting (AGM) of the company will be held on June 25, through the digital platform. The record date for this has been fixed at May 27.
One of the Listed companies, Bata Shoe Limited has recommended 105% Final Cash Dividend (Total 435% Cash Dividend for the year ended December 31, 2023 inclusive of 330% Interim Cash Dividend, which has already been paid) for the year ended December 31, 2023
In terms of financial performance, The Company has also reported EPS of Tk. 29.31 for the year ended December 31, 2023. The Company has also reported NAV per share of Tk 237.93 paisa for the year ended December 31, 2023.
The Annual General Meeting (AGM) of the company will be held on July 16, through the digital platform. The record date for this has been fixed at May 16.
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