LankaBangla Finance to issue Tk 200cr bond
LankaBangla Finance PLC said its board has approved the issuance of a zero-coupon bond to raise Tk 200 crore.
The 4th zero-coupon bond will be issued in a face value to generate liquidity to meet ongoing financing requirements, said the non-bank financial institution in a post on the Dhaka Stock Exchange yesterday.
A zero-coupon bond is a debt security that does not pay interest but instead trades at a deep discount, rendering a profit at maturity, when the bond is redeemed for its full face-value.
In another disclosure, LankaBangla Finance said it registered a 65 per cent year-on-year fall in profit to Tk 8.08 crore in the first quarter of the current financial year.
The profit stood at Tk 23.17 crore in the January-March period of 2022.
The NBFI, thus, reported consolidated earnings per share of Tk 0.15 for January-March of the current financial year, which was Tk 0.43 in 2022.
The filing said the EPS decreased due to the interest rate cap imposed by the regulator since the second half of 2022, the deteriorated asset quality owing to the aftermath of the Covid-19 pandemic, and less brokerage commission amid a lower turnover.
The consolidated net operating cash flow per share (NOCFPS) plummeted to Tk 0.22 negative from Tk 3.49 during the period while the consolidated net asset value per share (NAVPS) dipped to Tk 19.41 on March 31 this year from Tk 20.02 on December 31 last year.
The NOCFPS dropped as deposit settlements and other asset settlements resulted in higher cash outflows. The NAVPS fell due to the sales of shares of subsidiaries, the company added.
LankaBangla Finance shares closed unchanged at Tk 26 on the DSE yesterday.
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