Titas Gas to Issue Preferential Shares of Tk 283 crore

Industry: Energy & Power, LNG, Stock Market
Company: Titas Gas Transmission and Distribution Company Limited
Company Intelligence Tag: Business Insights

Titas Gas has decided to convert Tk 282.75 crore in share money deposits into non-cumulative preference shares for the Bangladesh government, pending BSEC approval. In Q1 FY2024-25, the company reported a Tk 189 crore net loss, down from a Tk 7 crore profit last year, with revenue falling to Tk 8,268 crore. Earnings per share dropped to a loss of Tk 1.91. For FY2023-24, Titas posted a Tk 7.52 per share loss and proposed a 5% cash dividend. The AGM to approve the dividend and other agendas is set for December 24. The government owns 75% of Titas’ shares, and the stock traded between Tk 19.50 and Tk 40.90 over the past year.

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