Ashuganj Power Station Company Limited has approved an 8.50% half-yearly second coupon profit for APSCL non-convertible and fully redeemable coupon-bearing bondholders.
The half-yearly period is from 5 January to 4 July 2021, according to sources in the company.
The record date for the entitlement of the coupon rate profit has been set for 4 July 2021. The bondholders whose names appear on the date will receive the interest.
Earlier, in December last year, the state-run power producer had paid an 8.50% profit for the first coupon to the bondholders.
Last year it issued bonds worth Tk500 crore through private placements among state-owned banks and financial institutions to finance its 400MW power plant, which is now under construction.
Acting upon the government's advice to increase tradable bonds on stock exchanges, bonds worth Tk100 crore were sold to general investors through an initial public offering (IPO) with a face value of Tk5,000 per unit.
With a tenure of seven years, the bonds offer an interest rate ranging from 8.50% to 10.50%. They have been traded on the secondary market of the Dhaka Stock Exchange (DSE).
On Thursday, the unit price of the bond came down 0.32% to Tk5,161 at the DSE.
In the first three quarters of the outgoing fiscal year, the revenue fell 8% to Tk1,656.98 crore, and the net profit decreased 28% to Tk223.61 crore.
Ashuganj Power is one of the largest power generation companies in Bangladesh. It holds the capacity to generate about 17% of the total electricity generation capacity in the country's public sector.
At present, the total capacity of its eight units is 1,690MW.
It has four upcoming projects with a power generation capacity of 4,440MW, which will commence at the end of June this year, according to sources in the company.