BSEC okays Envoy Textile’s Tk 87cr preference shares
BI Report || BusinessInsider
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The Bangladesh Securities and Exchange Commission (BSEC), the regulator of the stock market, has approved preference shares worth Tk 87 crore for Envoy Textiles.
The approval was given at a regular commission meeting held on Thursday, according to a BSEC press release.
The BSEC approved the five-year fully redeemable, non-convertible, cumulative preference shares of Envoy Textiles, which will be issued through private placements.
The face value of a preference share is Tk 10 per unit. The coupon rate has been fixed from 7 percent to 7.5 percent.
Envoy Textiles will implement the blended yarn project and repay the loan through this preference share issue.