GPH Ispat Limited, a prominent steel manufacturer in Bangladesh, is set to issue preference shares to raise up to Tk500 crore for refinancing existing loans. This decision follows a previous plan to raise Tk242 crore through rights shares to enhance production capacity. The issuance of non-convertible, cumulative, redeemable, and non-participative preference shares is subject to approval from the Bangladesh Securities and Exchange Commission (BSEC).
In a recent stock exchange disclosure, GPH Ispat announced a 10% cash dividend for general shareholders for the fiscal year 2023-24, in contrast to the 5% cash and 5% stock dividend given in FY23. The company reported an earnings per share (EPS) of Tk1.77 for FY24, a notable increase from Tk0.58 in the previous year, primarily due to improved management of foreign currency exchange losses, which fell from Tk232.50 crore to Tk79.32 crore. The company’s annual general meeting (AGM) is scheduled for December 12, with a record date set for November 4.
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