The board of directors of Islami Bank Bangladesh Limited has decided to issue the 'IBBL Third Mudaraba Redeemable Non-Convertible Subordinated Bond', valued at Tk 12 billion.
The bond, with a term of seven years, will be issued to raise the Tier-II capital of the bank under Basel-III, said an official disclosure posted on the Dhaka Stock Exchange (DSE) website on Wednesday.
Basel III is a comprehensive set of reform measures developed by the Basel Committee on Banking Supervision to strengthen regulation and supervision and reduce risks of the banking sector globally.
The issuance of bonds is subject to the approval of the regulatory authorities - the Bangladesh Bank (BB) and the Bangladesh Securities and Exchange Commission (BSEC), the disclosure said.
On Thursday, each share of the bank, listed on the Dhaka Stock Exchange (DSE) in 1985, closed at Tk 24.30, losing 0.41 per cent over the previous day.
In the last one year, its share traded between Tk 21.90 and 28.40 each.
The bank declared 10 per cent cash dividend for the year ended on December 31, 2018, which was approved at the annual general meeting of the bank on Tuesday.
In 2017, the bank also disbursed 10 per cent cash dividend.
The bank's un-audited consolidated earnings per share (EPS) stood at Tk 0.40 for January-March in 2019 as against Tk 0.36 for the same period in 2018.
The consolidated net operating cash flow per share (NOCFPS) was Tk 15.52 for January-March in 2019 as against negative Tk 13.33 for the same period in 2018.
The consolidated net asset value (NAV) per share was Tk 34.87 as on March 31, 2019 and Tk 31.83 as on March 31, 2018.
The bank's paid-up capital is Tk 16.10 billion, authorised capital is Tk 20 billion and the total number of securities is 1.60 billion.
The sponsor-directors own 47.85 per cent stake in the bank, while institutions own 12.16 per cent, foreign investors 24.12 per cent and the general public 15.87 per cent as of May 31, 2019, the DSE data shows.
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