The company also recommended a 2% cash dividend for the year ended 30 June 2026, exclusively for general shareholders
Listed steel manufacturer GPH Ispat has decided to issue rights shares to raise Tk967.77 crore, primarily to repay its existing loans.
The decision was made at a board meeting yesterday (12 September), where directors approved the issuance of 96.77 crore rights shares at a ratio of 2:1 – meaning shareholders will be entitled to two rights shares for every ordinary share held – at an issue price of Tk10 each, according to the company’s filing with the stock exchanges.
The rights offer remains subject to approval by shareholders at the upcoming Annual General Meeting (AGM) and final approval from the Bangladesh Securities and Exchange Commission (BSEC).
A separate record date for determining entitlement to the rights shares will be announced after regulatory approval.
The company also recommended a 2% cash dividend for the year ended 30 June 2026, exclusively for general shareholders. Sponsors and directors, who hold 14.62 crore shares, will forgo the dividend. The total payout to general shareholders will amount to Tk6.75 crore.
The company has scheduled its AGM for 25 October 2026 to seek shareholder approval for both the recommended dividend and the proposed rights issue.
The record date for determining shareholder eligibility for the AGM and dividend is 1 October.
GPH Ispat returned to profitability in FY26, reporting earnings per share (EPS) of Tk0.07, compared with a loss of Tk0.51 per share in FY25.
Source: The Business Standard
Read More at: csslbd.net
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