Dhaka, Bangladesh (BBN) - The board of directors of Bangladesh’s Rupali Bank Limited has approved the issuance of subordinated bond worth BDT 5.0 billion under private placement, said an official disclosure on Thursday.
The bank is going to issue the bond for strengthening the capital base of the bank, subject to the approval of Bangladesh Bank and the Bangladesh Securities & Exchange Commission (BSEC), the disclosure added.
The issue size of the bond is BDT 5.0 billion whose tenure will be 7 years at floating rate.
Each share of the bank, which was listed on the Dhaka bourse in 1986, closed at BDT 60.60 on Wednesday at Dhaka Stock Exchange.
The bank’s paid-up capital is BDT 3.03 billion and authorised capital is BDT 3.0 billion while total number of securities is 303.64 million, according to statistics from the DSE.
The government owns 90.19 percent stake in the bank while institutional investors own 2.94 percent and the general public 6.87 percent as on September 30, 2017.
The bank has reported consolidated earnings per share (EPS) of BDT 0.31 for April-June, 2017 as against BDT 0.09 for April-June, 2016.
In six months for January-June, 2017, consolidated EPS was BDT 0.73 as against BDT 0.35 for January-June, 2016.
The bank disbursed 10 percent cash dividend for the year ended on December 31 in 2016.
In 2015, the bank disbursed 15 percent cash dividend.
BBN/SS/AD