Business Desk :
Envoy Textiles has been given go-ahead by the Bangladesh Securities and Exchange Commission (BSEC) to issue fully redeemable non-convertible cumulative preference shares. Through issuing the share, the textile maker would raise a fund of Tk 87 crore for five-year tenure.
It would be issued through private placement whose face value is Tk 10 and coupon rate is 7 to 7.5 per cent.
Preference shares are shares of a company’s stock with dividends that are paid out to shareholders before common stock dividends are issued.
Most preference shares have a fixed dividend, while common stocks generally do not.
Preferred stock shareholders also typically do not hold any voting rights, but common shareholders usually do.
