The board of directors of HR Textile Limited has decided to issue a seven years non-convertible redeemable fixed rate corporate bond with face value of Tk 500 million.
The company has decided to issue the bond on the basis of financial statements as on December 31, 2018 through private placement to the potential investors (banks, insurance, financial institutions, corporate houses, NRBs and general public), the company said in a statement through DSE website on Thursday.
The bond issue is subject to compliance with the Bangladesh Securities and Exchange Commission (private placement of debt securities) Rules 2012.
The fund of corporate bond shall be used in capital investment in order to strengthen the production facilities and to settle down the existing high cost debt, subject to the approval from regulatory authorities including the BSEC, said the statement.
Each share of the company, which was listed on the Dhaka Stock Exchange in 1997, closed at Tk 46.60 on Thursday, advancing 2.87 per cent over the previous day.
The company’s paid-up capital is Tk 253 million, authorised capital is Tk 1.0 billion and the total number of securities is 25.30 million.
Sponsor-directors own 51.16 per cent stake in the company while institutional investors 10.64 per cent, foreign investors 4.17 per cent and general public 34.15 per cent as on January 31, 2019.
In six months for July-December 2018, the company’s earnings per share (EPS) stood at Tk 0.83 as against Tk 0.81 for July-December 2017.
The consolidated NOCFPS was Tk 3.75 in the negative for July-December 2018 as against Tk 0.85 for July-December 2017.
The consolidated NAV per share was Tk 42.32 as on December 31, 2018 and Tk 15.36 as on June 30, 2018.
The company disbursed 10 per cent cash dividend for the year ended on June 30, 2018.
