Dhaka, Bangladesh (BBN) – The board of directors of Paramount Textile Limited (PTL) has decided to issue bond worth BDT 500 million to meet up the ongoing financial requirements, said an official disclosure on Monday.
“The company has decided to issue non-convertible zero coupon bond (ZBC), with an issue size of BDT 500 million only to meet up the ongoing financial requirements and control the finance cost within the fixed set limit,” said the disclosure.
The issuance of bond is subject to approval from the Bangladesh Securities and Exchange (BSEC) and other regulatory authorities, the disclosure said.
Each share of the textile company, which was listed on the stock exchanges, closed at BDT 19.40 on Thursday last.
The company’s paid-up capital is BDT 1,173.16 million and authorised capital is BDT 2,000 million while the total number of securities is 117,315,870.
The sponsor-directors own 64.76 percent stake in the BBS, while institutional investors own 7.47 percent and the general public 27.77 percent as on November 30, 2016, the DSE data shows.
Located at Sreepur in Gazipur, Paramount textile produces high quality yarn dyed woven fabric for fashion brands and retailers across the world.
The 100 percent export oriented woven fabric manufacturer equipped with state of the art machineries producing 15 million yards of fabric annually.