Home ›› 30 Dec 2021 ›› Stock
Bangladesh Finance Limited (BFL), that declared to raise Tk 200 crore from the capital market through zero coupon bond, has now changed its mind and decided to withdraw its fund-raising application.
The listed non-bank financial institution’s board has recently adopted a resolution for withdrawal of the application, it said in a filing with the Dhaka Stock Exchange on Wednesday.
Talking to The Business Post, Bangladesh Finance Managing Director and Chief Executive Officer (CEO) Md Kyser Hamid said the decision was taken as the company’s financial health improved.
“Our balance sheet improved, non-performing loans declined, and we, at the same time, have been able to manage funds from other sources to meet the financial need,” said Hamid.
However, the NBFI has finalised its Islamic wing and is planning to issue bond or Sukuk in future, he said.
In November last year, the company proposed to float its first zero coupon bond to raise Tk 200 crore from the capital market. As per its plan, the bond was supposed to mature in three years.
Bangladesh Finance got listed in capital market in 2007, Its share price declined 1.26 per cent to Tk 54.90 on Wednesday.
It has a market capitalisation of Tk 987 crore while its paid-up capital is Tk 177 crore. The company has Tk 121 crore in surplus reserves.
The NBFI witnessed 105 per cent rise in its profits for the first nine months the outgoing year. It reported consolidated earnings per share (EPS) of Tk 2.07 for January-September period, against Tk 1.01 of the previous year’s same period.
