Stocks
BSEC Greenlights National Housing’s Tk 374.4cr Zero-Coupon Bond
The Bangladesh Securities and Exchange Commission (BSEC) has granted approval to National Housing Finance and Investment for the issuance of a Tk 374.4 crore zero-coupon bond. This marks the company’s first venture into non-convertible, fully redeemable, and unsecured zero-coupon bonds. The approval was obtained during a BSEC meeting on Tuesday (28 November).
The zero-coupon bond will carry a discount rate of up to 9% and will be issued through private placement among institutional investors and high-net-worth individuals. The unit price of the bond is set at Tk 1 lakh. The funds raised through this bond issuance will be utilized by the company for providing loans in the housing sector, with an additional commitment to invest 10% of its income in government securities.
Local merchant bank IDLC Investments Ltd has been appointed as the trustee for the bond, while BRAC EPL Investments Ltd will serve as the arranger. The zero-coupon bond will be listed on the alternative trading board of the stock exchanges.
In Bangladesh, a zero-coupon bond is issued at a discount from its face value, and bondholders receive the face value at maturity. Notably, income from zero-coupon bonds in the country is exempt from income tax for both individual and corporate investors.
National Housing Finance and Investment Ltd, listed on the capital market since 2009, reported an earnings per share of Tk0.41 in the July to September quarter of 2023, compared to Tk0.69 in the same period of the previous year. As of October 31 this year, the company’s ownership structure includes sponsors and directors jointly holding 50.57%, the government holding 9.34%, institutions holding 10.47%, and general investors holding 29.62% of the company’s shares.
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.
