Dhaka, Bangladesh (BBN) – The board of director of Industrial Promotion and Development Company (IPDC) has decided to issue bonds worth BDT 3.0 billion to meet its financing requirements, said an official disclosure on Thursday.
“Industrial Promotion and Development Company (IPDC) has informed that the board of directors of the company has decided to issue non-convertible zero coupon bonds amounting to BDT 3.0 billion through private placement,” said the disclosure.
The bonds will be for tenure of 5 years subject to the approval of Bangladesh Bank, Bangladesh Securities and Exchange Commission (BSEC) and other relevant regulatory bodies, the disclosure said.
The company was listed on the Dhaka bourse in 2006. The financial institutions sector company belongs to the “A” category.
IPDC’s paid-up capital is BDT 1,515 million and authorised capital is BDT 4,000 million, while the total number of securities is 151,500,567. The company’s total market cap stood at BDT 4,090.52 million as on Wednesday.
The sponsor-directors own 51.05 percent stake in the IPDC, while the government owns 21.88 percent, institutional investors 12.68 percent and the general public own 14.39 percent as on May 31, 2016, the DSE data showed.
Wednesday’s closing price of each IPDC share was BDT 27.