Dhaka, Bangladesh (BBN) - The board of directors of LankaBangla Finance has approved issuance of commercial paper worth BDT 1.50 billion to meet the ongoing financial requirements, said an official disclosure on Wednesday.
However, the commercial paper issuance is subject to approval of the regulatory authorities – Bangladesh Bank (BB) and Bangladesh Securities and Exchange Commission (BSEC), the disclosure said.
The board also decided to increase the authorized share capital of the company to BDT 10 billion from existing BDT 3.0 billion.
In this regard, the company will hold an extra ordinary general meeting (EGM) scheduled to be held on October 24, at 10am. The venue will be notified later.
The record date for EGM is on August 23.
However, increase of authorized share capital of the company is also subject to approval of the shareholders and regulatory authorities – BB and BSEC.
The company also disclosed un-audited second quarter (Q2) financial report on Wednesday.
As per Q2 report, the company’s consolidated earnings per share (EPS) stood at BDT 0.69 for April-June, 2016 period as against BDT 1.24 for the same period in the previous year.
In six months for January-June, 2016 period, consolidated EPS was BDT 1.02 as against BDT 0.09 for January-June, 2015. Consolidated net operating cash flow per share (NOCFPS) was BDT (4.52) for January-June, 2016 as against BDT (2.77) for January-June, 2015.
The consolidated NAV per share was BDT 22.32 as of June 30, 2016 and BDT 22.63 as of June 30, 2015.
Each share of the company hovered between BDT 28.80 and BDT 29.70, before closing at BDT 29 on Wednesday, advancing 0.70 percent over the previous day.
The LankaBangla Finance was listed on the Dhaka bourse in 2006. The NBFI belongs to the “A” category.
The sponsor-directors own 38.56 percent stake in the LankaBangla, while the institutional investors own 29.26 percent, foreign investors 2.15 percent and the general public 30.03 percent as on June 30, 2016, the DSE data showed.
BBN/SSR/BB