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.
DSE on Slight Hike
Dhaka Stock Exchange DSE, Bourses on the third working day of the week, March 21, ended with price index & turnover hikes.
This information is known from DSE sources.
349 crores 61 lakh shares were traded in DSE on this day. 4 crores 95 lakhs less trading was done in DSE today compared to the previous workday, 20 March, Shares worth Tk 344 crores 66 lakh shares were traded in DSE last time, Monday.
The benchmark index DSEX hiked 18.72 points or 6,222. The Shariah-based index DSES rose 5.90 points or 1,355, and the blue-chip index DS30 gained 4.80 points or 2,220.
Of the issues traded, 87 advanced, 14 declined, and 224 remained unchanged.
Legacy Footwear Limited ranked top gainer on DSE, the share price increased by Tk 4.3 paisa or 10.00 percent. On this day, the share was last traded at Tk 47.30 paisa.
On the other hand,Renwick Jagneswar & Co (Bd) Ltd ranked top loser on the DSE, the share price dropped by Tk 15.7 paisa or 2.05 percent. On this day, the share was last traded at Tk 750.10 paisa.
DSE topped on trade Sea Pearl Beach Resort & Spa Limited 30 crores 78 lakh 18 thousand takas of shares of the company have been traded.
A total of 51 companies’ shares were traded in the Block on Dhaka Stock Exchange, 45 lakh 77 thousand 172 shares of the companies were traded. The financial value of which is 36 crore 90 lakh taka.
Phoenix Insurance discloses its Dividends
One of the Listed Companies, Phoenix Insurance Company Limited has recommended 15 percent cash Dividend to its investors for the Financial Year ending December 31, 2022.
This source is known from DSE.
The Company has reported EPS of Tk 2.02 paisa, NAV per share of Tk 37.10 for the year ended December 31, 2022, as against EPS of Tk 2.20 paisa.
The Annual General Meeting (AGM) of the company will be held on May 31 through the digital platform. The record date for this has been fixed at April 17.
Central Insurance Declares its Dividends
One of the Listed Companies, Central Insurance Company Limited has recommended 15 percent cash Dividend to its investors for the Financial Year ending December 31, 2022.
This source is known from DSE.
The Company has reported EPS of Tk 2.03 paisa, NAV per share of Tk 49.48 for the year ended December 31, 2022, as against EPS of Tk 2.41 paisa.
The Annual General Meeting (AGM) of the company will be held on May 28 through the digital platform. The record date for this has been fixed at April 16.
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