Paramount Textile to issue Tk 500m bond




FE Online Report

The board of directors of Paramount Textile Limited (PTL) has decided to issue bond worth Tk 500 million to meet up the ongoing financial requirements, said an official disclosure on Monday.


“The company has decided to issue non-convertible zero coupon bond (ZBC), with an issue size of Tk 500 million only to meet up the ongoing financial requirements and control the finance cost within the fixed set limit,” said the disclosure.

However, the issuance of the bond is subject to approval from the Bangladesh Securities and Exchange (BSEC) and other regulatory authorities, the disclosure said.

Each share of the textile company, which was listed on the stock exchanges, closed at Tk 19.40 on Thursday last.

The companies paid-up capital is Tk 1,173.16 million and authorized capital is Tk 2,000 million while the total number of securities is 117,315,870.

The sponsor-directors own 64.76 percent stake in the company, while institutional investors own 7.47 per cent and the general public 27.77 per cent as on November 30, 2016, the DSE data shows.

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