Eastern Bank Limited (EBL) will raise Tk 5.0 billion through subordinated bond to strengthen its base.
The company's board of directors in last week took the decision of raising capital through subordinated bond subject to approval of the respective regulatory authorities.
The bond is non-convertible, non-listed, redeemable 3rd subordinated, according to a disclosure posted on the Dhaka Stock Exchange (DSE) website.
The EBL, presently an 'A' category company, was listed on the stock exchange in 1993.
The company's sponsor-directors hold 30.18 per cent shares, institutes 47.12 per cent, foreigners 0.33 per cent and general shareholders 22.37 per cent as on December 31, 2021.
The share price of the EBL closed at Tk 38.60 each with a rise of 1.31 per cent on Thursday on the premier bourse DSE.
mufazzal.fe@gmail.com