IDLC to issue bonds worth Tk 500 crore

The board of directors of IDLC Finance, a listed company in the financial sector of the capital market, has decided to raise money through bonds.

Dhaka Stock Exchange (DSE) informed on Tuesday that the board of directors of the company has approved the proposal for an unsecured non-convertible zero coupon bond of Tk 500 crore.

The company will issue these bonds through private placement, which will have a tenure of two years.

However, for this, IDLC has to take the approval of the capital market regulatory body Bangladesh Securities and Exchange Commission (BSEC).

According to the latest unaudited financial report, the consolidated earnings per share (EPS) of the company for the first half (January-June) of the current financial year 2022 stood at Tk 2.21, which was Tk 2.49 at the same period a year ago.

The company’s consolidated EPS for the second quarter was Tk 1.5, whereas the EPS in the same period of the previous year was Tk1.36.

At the end of June 30 this year, the company’s consolidated net asset value per share (NAVPS) stood at Tk 41.17.

IDLC Finance has paid a total dividend of 20 percent to investors for the financial year ended December 31, 2021. Of this, 15 percent was cash and 5 percent was stock dividends.