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Southeast Bank to issue Tk 5.0b subordinated bond

FE Online Report | Published: October 30, 2017 14:14:01 | Updated: November 01, 2017 11:48:29


The board of directors of Southeast Bank Limited (SEBL) has adopted the resolution for the issuance of Southeast Bank 7 years Non-Convertible Subordinated Bond to raise Tier-II Capital of the Bank, said an official disclosure on Monday.

The issue size of the bond is Tk 5.0 billion the tenure of which will be seven years.

The board has also decided that any changes requiring in the feature of the bond’s tenor, issue size or whatsoever as deemed necessary by any regulatory advice or otherwise shall be decided by the board of directors of the Bank.

The board has also adopted the resolution for formation of a subsidiary company of the bank in the name and style “SEBL Asset Management Limited'” for offering Asset Management Services.

Each share of the bank, which was listed on the Dhaka bourse in 2000, closed at Tk 20.10 on Sunday on the Dhaka Stock Exchange (DSE).

The bank has also reported consolidated EPS was Tk 1.29 for July-September, 2017 as against Tk 1.07 for July-September, 2016.

In nine months, consolidated EPS was Tk. 2.58 for January-September, 2017 as against Tk. 2.49 for January-September, 2016.

Consolidated NOCFPS was Tk (5.66) for January-September, 2017 as against Tk 14.75 for January-September, 2016. Consolidated NAV per share was Tk 29.35 as on September 30, 2017 and Tk 29.47 as on September 30, 2016.

The bank’s paid-up capital is Tk 9.16 billion and authorised capital Tk 15 billion while total number of securities is 916.95 million, according to DSE statistics.

Sponsor-directors own 32.38 per cent stake in the bank while institutional investors own 31.72 per cent, foreign investors 6.95 per cent and the general public 28.95 per cent as of September 30, 2017.

The bank disbursed 20 per cent cash dividend for the year ended on December 31, 2016. In 2015, the bank disbursed 15 per cent cash dividend.

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