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The Financial Express

City Bank to issue Tk 3.0b zero coupon bonds

| Updated: May 20, 2019 11:11:03


City Bank to issue Tk 3.0b zero coupon bonds

The board of directors of The City Bank Ltd has decided to raise Tk 3.0 billion through issuance of zero coupon bonds, said an official disclosure on Thursday.

The bank will issue bonds to support its continuous business growth subject to approval from the regulatory authorities— Bangladesh Bank (BB) and Bangladesh Securities and Exchange Commission (BSEC), the disclosure said.

Each share of the bank, which was listed on the Dhaka Stock Exchange (DSE) in 1986, closed at Tk 24.20 on Wednesday.

The bank’s share traded between Tk 22.50 and Tk36.30 in the last one year.

The company declared 6.0 per cent cash and 5.0 per cent stock dividend for the year ended on December 31, 2018.

The banks’ consolidated earnings per share (EPS) stood at Tk 0.79 for January-March 2019 as against Tk 0.38 for January-March 2018.

The consolidated net operating cash flow per share (NOCFPS) was negative Tk 11.56 for January-March 2019 as against negative Tk 0.32 per cent for January-March 2018.

The consolidated net asset value (NAV) per share was Tk 26.20 as on March 31, 2019 and Tk 25.74 as on December 31, 2018.

The company’s paid-up capital is Tk 9.67 billion and authorised capital is Tk 15 billion while the total number of securities is 967.98 million.

The sponsor-directors own 30.29 per cent stake in the bank, while the institutional investors own 22.32 per cent, foreign investors 11.69 per cent and the general public 35.70 per cent as on April 30, 2019, the DSE data shows.

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