Dhaka, Bangladesh (BBN) – LankaBangla Finance has approved the issuance of subordinated bond worth of BDT 3.0 billion, said an official disclosure on Tuesday.
The board of directors of non-bank financial institution is going to issue the subordinated bond to improve the capital base (Tier-II) of the company.
The issuance of the bond of LankaBangla Finance is, however, still subject to compliance with the relevant laws and regulatory approval like Bangladesh Bank and Bangladesh Securities and Exchange Commission.
The company also disclosed its first quarter (Q1) earnings results on Tuesday.
As per Q1 financial statement, the company’s consolidated earnings per share (EPS) plunged to BDT 0.16 for January-March 2018 as against BDT 0.60 for January-March 2017.
The consolidated net operating cash flow per share (NOCFPS) was minus BDT 1.28 for January-March 2018 as against minus BDT 4.39 for January-March 2017.
The consolidated net asset value (NAV) per share was BDT 18.45 as on March 31, 2018 and BDT 16.23 as on December 31, 2017.
Each share of the company closed at BDT 27.60 on Monday at the Dhaka Stock Exchange (DSE).
LankaBangla Finance, which was listed on the Dhaka bourse in 2006, paid 7.50 percent cash and 7.50 percent stock dividend for the year ended on June 30, 2017.
The company’s paid-up capital is BDT 5.13 billion, authorised capital is BDT 10 billion and the total number of securities is 513.17 million.
Sponsor-directors own 33.56 percent stake in the company while institutional investors 22.55 percent, foreign investors 1.92 percent and general public 41.97 percent as on March 31, 2018.