IDLC to issue Tk 5.0b zero-coupon bonds

FE REPORT | Wednesday, 21 September 2022

The board of directors of IDLC Finance has decided to issue unsecured non-convertible zero-coupon bonds worth Tk 5.0 billion with tenure of two years.
The country's leading non-bank financial institution will issue the bond through private placement, according to an official disclosure published on Tuesday.
The issuance of the bond, however, is subject to the approval from the regulatory authorities -- Bangladesh Bank (BB) and Bangladesh Securities and Exchange Commission (BSEC).
IDLC Finance, listed on the Dhaka Stock Exchange (DSE) in 1992, saw its share prices close at Tk 49.90 each on Tuesday, gaining 0.40 per cent over the previous day.
Its shares traded between Tk 45 and Tk 74.80 in the last one year.
The company's consolidated earnings per share (EPS) stood at Tk 1.05 for April-June 2022 as against Tk 1.36 for April-June 2021.
The consolidated EPS for six months was Tk 2.21 for January-June 2022 as against Tk 2.49 for January-June 2021.
The company's EPS dropped due to a decrease in investment income and income from commission, exchange and brokerage respectively as well as a decrease in net profit after tax, according to the company.
The company disbursed 15 per cent cash and 5.0 per cent stock dividend for the year ended on December 31, 2021. In 2020, it also provided 15 per cent cash and 5.0 per cent stock dividend.

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