SS Steel to Issue Tk 500 Crore Bonds for Term Loan Repayments

On May 20, 2025, Bangladesh’s stock market rebounded from a five-year low as bargain hunters capitalized on undervalued shares. The DSEX rose 13 points (0.28%) to 4,789 in the first hour of trading. Blue-chip and Shariah indices also posted gains.

Over the past seven years, 56 companies raised Tk5,178 crore through IPOs in Bangladesh, but 24 of them—collectively raising over Tk2,000 crore—have been downgraded to the Z and B categories due to poor financial performance.

In FY24, Bangladesh’s steel industry faces significant challenges driven by declining demand, political uncertainty, and high operational costs. BSRM, with an annual production capacity of 24 lakh tonnes, and Abul Khair Steel, producing 30 lakh tonnes, both expanded based on prior economic momentum now lost.

The Tk 37 billion green steel project by Bashundhara Multi Steel Industries Limited (BMSIL) in Chattogram is facing significant challenges, mainly due to lack of utility and policy support. Launched in 2021, the project aims to produce eco-friendly steel using Danieli’s MIDA technology, with production expected by mid-2026.

The Dhaka Stock Exchange (DSE) saw a significant decline on Sunday, with the DSEX index falling nearly 30 points, or 0.56%, to 5,174, marking its lowest level since February 10. This drop was driven by investor unease following tensions within the Bangladesh Securities and Exchange Commission (BSEC) over the forced retirement of an executive director.

GPH Ispat plans to raise $150 million through an IPO on the Hong Kong Stock Exchange to fund a $185 million expansion project, increasing annual production capacity by 500,000 tonnes of billet and rod. The board approved the decision on January 23, appointing PricewaterhouseCoopers as advisors.