The Financial Express

BRAC Bank to issue Tk 6.0b bond to provide affordable housing finance

| Updated: August 30, 2021 08:50:42

BRAC Bank to issue Tk 6.0b bond to provide affordable housing finance

BRAC Bank has decided to issue non-convertible bonds worth up to Tk 6.0 billion to raise funds for providing affordable housing finance to lower and middle-income groups of the country.

The bank will be a non-convertible, redeemable, unsecured, fixed coupon-bearing bond which will be raised through private placement, the bank said in a filing with the Dhaka Stock Exchange (DSE) on Sunday.

Each share of the bank, which was listed on the DSE in 2007, closed at Tk 47.90 on Thursday last. Its shares traded between Tk 36 and Tk 53.10 in the last one year.

The bank has reported its consolidated earnings per share (EPS) of Tk 0.96 for April-June, 2021, up by a whopping 357 per cent, from Tk 0.21 in the corresponding period.

The private commercial bank’s consolidated EPS for six months that ended on June 30, 2021, also rose to Tk 1.85 as against Tk 0.84 for the same period of the previous year.

The company’s paid-up capital is Tk 13.92 billion and authorised capital is Tk 20 billion, while the total number of securities is 1.39 billion.

The sponsor-directors own 46.24 per cent stake in the bank, while institutional investors own 10.84 per cent, foreign investors 37.40 per cent and the general public 5.52 per cent as of July 31, 2021, the DSE data showed.

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