Confidence Cement has faced challenges due to the ongoing dollar crisis in Bangladesh, leading to a 40% decline in the cement sector’s growth. As a result, the company had to shut down its ready-mix concrete plant and is now attempting to raise capital by issuing right shares at a premium of 35 BDT, priced at 45 BDT per share. The company aims to use the funds for investments in its subsidiary and for repaying term loans. Confidence Cement’s annual revenue for FY 2023-24 was 4.09 billion BDT, down from 4.55 billion BDT in the previous fiscal year. Its EPS for the year was 8.73 BDT, and the NAV per share stood at 74.75 BDT. Despite challenges, the company declared a 10% cash dividend for investors and scheduled its AGM on October 23, with a record date of September 30. Over the past year, Confidence Cement’s share price has fluctuated between 57.50 BDT and 89.70 BDT, reflecting investor concerns over lower-than-expected dividends and investments in non-essential projects.
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