The board of directors of Aamra Networks Ltd has decided to issue non-convertible zero coupon bonds worth Tk 1.0 billion.
The IT company will issue the bond at face value through private placement, subject to approval of the regulatory authorities like Bangladesh Securities and Exchange Commission, according to an official disclosure on Sunday.
The bond will be non-convertible, size of the bond will be up to Tk 1.0 billion (at face value) with the denomination of Tk 1000 each with a five years tenure.
The aforesaid decision has been taken in conformity of the BSEC (Private Placement of Debt Securities) Rules 2012 and subsequent amendment made thereof, said the disclosure.
Each share of the company, which was listed on the Dhaka bourse in 2017, closed at Tk 35.10 on Sunday.
The company's earnings per share (EPS) stood at Tk 0.98 for January-March 2020 as against Tk 0.91 for January-March 2019.
In nine months for July 2019-March 2020, its EPS was Tk 2.67 as against Tk 2.89 for July 2018-March 2019.
The company disbursed 6.0 per cent cash and 6.0 per cent stock dividend for the year ended on June 30, 2019.
Currently, the company's paid-up capital is Tk 562.24 million, authorised capital is Tk 1.0 billion and the total number of shares is 56.22 million.
Sponsors-directors own 33.04 per cent stake in the company, while the institutional investors own 28.09 per cent, foreign investors 15.98 per cent and the general investors 22.89 per cent as on February 29, 2020.
Alpha Credit Rating (AlphaRating) has rated the company as "A+" in the long term and "ST-2" in the short term along with a stable outlook based on audited financial statements of the company as on June 30, 2019 and relevant qualitative information till July 11, 2020.