Published on 09:20 PM, July 27, 2022
Paramount Textile to offload preference shares
Star Business Report
Paramount Textile, a listed textile company, has got regulatory approval to offload preference shares to raise a fund of Tk 150 crore.
Preference shares are a company's stocks with dividends that are paid out to shareholders before common stock dividends are issued.
Most preference shares have a fixed dividend, while common stocks generally do not.
Each unit of it would be Tk 10 and its tenure is five years.
Dividend of the preference share is 7 to 8.5 per cent, according to a statement of the Bangladesh Securities and Exchange Commission released today after a commission meeting.
With the raised fund, the textile maker would repay bank loans and expand its business.
NDB Capital is the arranger of the issue.