City Bank to invest Tk 1.30 billion in share capital
Its stock price jumps 4.20pc
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The board of directors of City Bank has decided to invest Tk 1.30 billion in share capital against an offer by City Brokerage, a subsidiary of the bank.
The bank will invest the amount in equivalent 130 million shares of Tk 10 each, said an official disclosure posted on the Dhaka Stock Exchange (DSE) website on Thursday.
The investment issue is subject to obtaining approval from the regulatory bodies-Bangladesh Bank and Bangladesh Securities & Exchange Commission (BSEC) -and comply with the rules and regulations.
The City Bank was listed on the Dhaka bourse in 1986. Each share of the bank closed at Tk 34.70 on Thursday, registering an increase of 4.20 per cent over the previous day.
In the last one year, the bank's share traded between Tk 28.30 and Tk 57.30.
The bank's consolidated earnings per share (EPS) stood at Tk 1.11 for April-June, 2018 as against Tk 1.51 for April-June, 2017.
In six months for January-June 2018, the consolidated EPS was Tk 1.51 as against Tk 2.18 for January-June, 2017.
The consolidated net operating cash flow per share (NOCFPS) was Tk 12.92 for January-June, 2018 as against negative Tk 10.43 for January-June, 2017.
The consolidated net asset value (NAV) per share was Tk 27.76 as on June 30, 2018 and Tk 28.40 as on December 31, 2017.
The bank disbursed 19 per cent cash and 5.0 per cent stock dividend for the year ended on December 31, 2017. In 2016, it paid 24 per cent cash dividend.
The bank'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 30.23 per cent stake in the bank while institutional investors own 23.12 per cent, foreign 11.92 per cent and the general public 34.73 per cent as on July 31, 2018, the DSE data shows.