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IDLC Finance to issue Tk 5.0b zero coupon bonds

FE REPORT | October 05, 2020 00:00:00

The board of directors of IDLC Finance has decided to issue unsecured non-convertible zero coupon bonds worth Tk 5.0 billion with four years tenure (in face value).

The country's one of the leading non-bank financial institutions will issue the bond only through private placement, according to an official disclosure on Sunday.

The bond issue is also subject to the approval of the regulatory authorities - Bangladesh Bank (BB) and Bangladesh Securities and Exchange Commission (BSEC).

Each share of the company, which was listed on the Dhaka Stock Exchange (DSE) in 1992, closed at Tk 56.40 on Sunday, losing 1.74 per cent over the previous day.

Its share traded between Tk 35 and Tk 60 in the last one year.

The company's consolidated earnings per share (EPS) stood at Tk 0.99 for April-June, 2020 quarter as against Tk 1.31 for April-June, 2019.

The consolidated EPS was Tk 1.77 in six months for January-June 2020 as against Tk 2.67 for January-June, 2019.

The consolidated net operating cash flow per share (NOCFPS) was minus Tk 3.28 for January-June, 2020 as against Tk 4.12 for January-June, 2019.

The consolidated net asset value (NAV) per share was Tk 35.44 as on June 30, 2020 and Tk 37.18 as on December 31, 2019.

The company disbursed 35 per cent cash dividend for the year ended on December 31, 2019.

The company's paid-up capital is Tk 3.77 billion and authorised capital is Tk 10 billion, while the number of securities is 377.05 billion.

The sponsor-directors own 56.66 per cent stake in the company, while institutional investors own 21.24 per cent, foreign 11.34 per cent and the general public 10.76 per cent as on August 31, 2018.

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