The securities regulator has given consent for issuance non-convertible zero coupon bond Tk 3.0 billion of the Delta Brac Housing Finance Corporation (DBH). The approval came at a meeting of the Bangladesh Securities and Exchange Commission (BSEC) held recently presided over by its chairman Prof. M Khairul Hossain.
As per the BSEC approval, denomination of the fully redeemable, unsecured and unlisted non-convertible bond is Tk 1.0 million per unit with tenure up to five years. The bond will be issued to the institutional investors, insurance companies, corporate entities and other eligible investor thorough private placement within the range of interest from 7.0 per cent to 8.0 per cent per annum.
The consent has been accorded subject to issuance of no objection certificate (NOC) from Bangladesh Bank and compliance with the relevant laws and regulatory requirements and also shall adherence to the conditions imposed by BSEC under section-2CC of the Securities and Exchange Ordinance, 1969. The fund will be raised to strengthen the company's current fund for financing projects. Each share of the non-bank financial institution, which was listed on the Dhaka bourse in 2008, closed at Tk 127.30 on Thursday, the last trading day of the week. In the last one year, the company's share price traded between Tk 111.30 and Tk 162.80 each. The company declared 25 per cent cash and 10 per cent stock dividend for the year ended on December 31, 2018. In 2017, the company paid 30 per cent cash dividend.
— FE Report
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