Dhaka, Bangladesh (BBN) – BSRM Steels Ltd, a unit of Bangladesh Steel Re-rolling Mills (BSRM) has planned to issue Zero Coupon Bond subject to the approval from the securities regulator, officials said.
“The company has informed that the Board of Directors of the company has decided to issue Zero Coupon Bond of BDT 2,000 million subject to the approval from the Bangladesh Securities and Exchange Commission,” said a web post on the Dhaka Stock Exchange (DSE) on Sunday.
The proceeds will be used for capital expenditure/ refinancing of costly loans and equity investment in the power project of BSRM Group of Companies, said the web post.
BSRM Steels, the Chittagong based company listed on the Dhaka bourse in 2009. The engineering sector company is belonging to ‘A’ category, according to DSE website information.
Of the total shares – sponsor-directors held by 70.87 percent, intuitions 15.41 percent, foreign investors 0.35 percent and public held by 13.37 per cent shares.
Currently, the company’s authorised capital is BDT 5000 million and paid-up capital is BDT 3,417.8 million.