IPDC Finance to issue Tk 1.0 billion bond

IPDC Finance Limited will raise a capital worth Tk 1.0 billion through issuing bonds.

The Bangladesh Securities and Exchange Commission (BSEC) approved a proposal to raise the capital through issuing 'Fully Redeemable Subordinated Bond', according to a company disclosure on Sunday.

The bond will be issued through private placement to other than existing shareholders of the company in cash consideration.

"The consent has been accorded subject to the condition that the company shall comply with the relevant laws and regulatory requirements," the disclosure said.

It also said the company shall also adhere to the conditions imposed by the securities regulator under Section-2CC of the Securities and Exchange Ordinance, 1969.

IPDC Finance, presently an 'A' category company, was listed with the stock exchanges in 2006.

The company's sponsor-directors hold 51.05 per cent shares, the government 21.88 per cent, institutions 13.51 per cent, foreign shareholders 0.17 per cent and general public 13.39 per cent as on September 30, 2018.

The company's share price closed at 40.20 each on Sunday with a marginal rise of 1.25 per cent on Dhaka Stock Exchange (DSE).

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