Home ›› 29 Oct 2021 ›› Stock
BRAC Bank has received the go-ahead from the securities regulator to raise Tk 600 crore through issuing non-convertible, fixed coupon senior bond.
The approval came in a commission meeting on Thursday, said the Bangladesh Securities and Exchange Commission (BSEC) in a statement.
The bank will spend the proceeds to distribute home loans to the low-income group people. The bond is coupon-bearing, non-convertible, unsecured, fully redeemable, and fixed coupon.
The bond would be matured after completion of five years tenure from the date of issuance.
Foreign investors are allowed to invest in the bond worth Tk 425 crore. Rest of amount 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 Thursday, the bank’s share price declined 0.43 per cent to Tk 46.2 on the Dhaka Stock Exchange.
Currently, it has a market capitalization of Tk 6,459 crore, its paid-up Tk 1,392 crore and authorised capital Tk 2,000 crore.
It disbursed 10 per cent cash and five per cent stock dividends to the shareholders last year.
