The stock market regulator has given consent to Intraco Refueling's proposal to raise Tk50 crore through the issuance of a seven-year coupon-bearing bond.
In an official consent letter, the Bangladesh Securities and Exchange Commission (BSEC) specified that the bond's coupon rate is fixed at 7%, ensuring semiannual payouts to investors.
Additionally, the bond carries the option for full conversion into the ordinary shares of the company at the discretion of the investor.
Breaking down the allocation, BSEC earmarked Tk35 crore for private placement, with an additional Tk15 crore under public offering.
This financial initiative is strategically aimed at bolstering Intraco Refueling's capacity in setting up Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) stations.
In the early session on Monday, the company's share price saw a notable uptick of 0.56%, reaching Tk36 each at the Dhaka bourse.