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The board of directors of LankaBangla Finance has approved the issuance of subordinated bond of Tk 3.0 billion, said an official disclosure on Tuesday.
The non-bank financial institution is going to issue the subordinated bond to improve the capital base (Tier-II) of the company.
The issuance of the bond of LankaBangla Finance is, however, still subject to compliance with the relevant laws and regulatory approval like Bangladesh Bank and Bangladesh Securities and Exchange Commission.
The company also disclosed first quarter (Q1) earnings results on Tuesday.
As per Q1 financial statement, the company’s consolidated earnings per share (EPS) plunged to Tk 0.16 for January-March 2018 as against Tk 0.60 for January-March 2017.
The consolidated net operating cash flow per share (NOCFPS) was minus Tk 1.28 for January-March 2018 as against minus Tk 4.39 for January-March 2017.
The consolidated net asset value (NAV) per share was Tk 18.45 as on March 31, 2018 and Tk 16.23 as on December 31, 2017.
Each share of the company closed at Tk 27.60 on Monday at the Dhaka Stock Exchange (DSE).
LankaBangla Finance, which was listed on the Dhaka bourse in 2006, paid 7.50 per cent cash and 7.50 per cent stock dividend for the year ended on June 30, 2017.
The company’s paid-up capital is 5.13 billion, authorised capital is Tk 10 billion and the total number of securities is 513.17 million.
Sponsor-directors own 33.56 per cent stake in the company while institutional investors 22.55 per cent, foreign investors 1.92 per cent and general public 41.97 per cent as on March 31, 2018.