DBH gets BSEC nod to issue Tk 300cr bond

The Bangladesh Securities and Exchange Commission (BSEC) has approved a non-convertible zero-coupon bond worth Tk 300 crore proposal forwarded by Delta Brac Housing Finance Corporation Limited (DBH).

The approval was given at a commission meeting on Tuesday.

The purpose of the bond issuance is to distribute the home loan of the company. Per unit value of the bond is Tk 40,000. The discount rate of the bond is a maximum of 6 per cent.

The units will be sold to banks, financial institutions, insurance companies, corporate bodies, asset management companies, mutual funds, and high net worth individuals through private placements in cash consideration.

On Tuesday, DBH share fell 1.65 per cent to Tk 77.70 on the Dhaka Stock Exchange. The company’s market capitalization stood at Tk 1,400 crore and the paid-up Tk 177 crore.

The company distributed dividends regularly for its investors. Last year, it distributed 15 per cent cash and 15 per cent stock dividends.

Delta Brac Housing was listed in the stock market in 2008.

Sponsors-directors hold 51.32 per cent, institute 17.77 per cent, foreign 19.34 per cent and public 11.57 per cent of the company’s share as of September 30, 2021.

The company’s net profit increased 83 per cent for the first half of this year. It reported Tk 49.69 crore in net profit for January-June this year, which was Tk 27.10 crore in the same period a year earlier.