Confidence Cement to issue preference shares worth Tk150cr | The Business Standard
Skip to main content
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Get the Paper
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Wednesday
July 23, 2025

Sign In
Subscribe
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Get the Paper
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
WEDNESDAY, JULY 23, 2025
Confidence Cement to issue preference shares worth Tk150cr

Stocks

TBS Report
19 February, 2023, 01:35 pm
Last modified: 20 February, 2023, 09:42 am

Related News

  • DSEX hits eight-month high as blue-chips lead market rally
  • Libra Infusions shares rebound as factory resumes operations
  • DSEX breaks past 5,200 after 3-month lull, turnover hits 8-month high
  • Confidence Cement seeks BSEC's reconsideration on Tk100cr rights issue plan
  • Global Islami Bank to propose no dividend for 2023 as audit finds heavy losses

Confidence Cement to issue preference shares worth Tk150cr

TBS Report
19 February, 2023, 01:35 pm
Last modified: 20 February, 2023, 09:42 am
Confidence Cement to issue preference shares worth Tk150cr

Confidence Cement, a concern of Confidence Group, has decided to issue convertible preference shares of Tk150 crore to meet ongoing financial requirements and equity injection to its associate companies. 

In its recent board meeting held last week, the company decided to raise Tk150 crore by issuing preference shares.

As per the move, the issuance of convertible preference shares up to Tk150 crore and it may be modified further pursuant to the instructions of the stock market regulator or the requirement of law.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

The issuance of preference shares is subject to the approval of the shareholders in an extraordinary general meeting (EGM) and the Bangladesh Securities and Exchange Commission (BSEC). 

On 25 March, the company will arrange EGM through the digital platform to secure general shareholders' approval and to identify the shareholders of the company. Whereas, the record date has been fixed on 13 March. 

Besides, Confidence Cement's board has proposed to increase authorised capital from exiting Tk100 crore to Tk350 crore along with the inclusion of preference shares as the capital to be divided into 20 crore ordinary shares of Tk10 each amounting to Tk200 crore and Tk150 crore preference shares of Tk10 each.

As per to a disclosure published on the Dhaka Stock Exchange (DSE) website, in the first half of 2022 (July-December), the company's consolidated EPS fell 23% to Tk4.43, which was Tk5.74 in July-December 2021. 

Established in 1991, Confidence Cement Limited went into commercial operation in 1994. It was listed on both stock exchanges in 1995. At present, the company has an annual production capacity of 12 lakh tonnes.

In fiscal 2021-22, the company witnessed a drastic fall in profit owing to a drop in sales, devaluation of the taka against the dollar, a rise in raw material prices, as well as losses incurred by its associate companies namely Confidence Batteries Limited.

In FY22, its EPS declined to Tk1.43 from Tk15.85 in the previous fiscal year. As profit declined, the company recommended a 5% cash, and 5% stock dividend for its shareholders.

Earlier in FY21, it had paid a 25% cash dividend to its shareholders. On Sunday (19 February), Confidence Cement's share price stood at Tk89 each on the DSE trading floor at 10:39am.

Top News

Confidence Cement / Stock Market

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • TBS Illustration
    Dhaka proposes third-round tariff talks on Sunday, awaits US response
  • Caab Director Ahsan Habib. Photo: Collected
    CAAB transfers flight safety and regulation director following Milestone plane crash
  • Students hold placards calling for justice during a demonstration on 22 July. Photo: Mehedi Hasan/TBS
    Milestone forms committee to ascertain number of deceased, injured, and missing in jet crash

MOST VIEWED

  • Screengrab/Video collected from Facebook
    CCTV footage shows how Air Force jet nosedived after technical malfunction
  • Photo: Collected
    Bangladeshi man jailed for life in UK for murdering wife in front of their baby
  • Why Bangladesh's capital market is poised for a bull run
    Why Bangladesh's capital market is poised for a bull run
  • ISPR clarifies crashed plane was battle aircraft, not training jet
    ISPR clarifies crashed plane was battle aircraft, not training jet
  • Photo: Syed Zakir Hossain/TBS
    Secretariat protest: 75 injured in police-protester clash over edu adviser's resignation for delaying HSC rescheduling
  • Exim Bank's former chairman Nazrul Islam Majumder being taken to court on 22 July 2025. Photo: Collected
    Will repay all money if granted bail, won’t run away, ex-Exim Bank chair Nazrul tells court

Related News

  • DSEX hits eight-month high as blue-chips lead market rally
  • Libra Infusions shares rebound as factory resumes operations
  • DSEX breaks past 5,200 after 3-month lull, turnover hits 8-month high
  • Confidence Cement seeks BSEC's reconsideration on Tk100cr rights issue plan
  • Global Islami Bank to propose no dividend for 2023 as audit finds heavy losses

Features

Photo: Mehedi Hasan/TBS

Aggrieved nation left with questions as citizens rally to help at burn institute

21h | Panorama
Photo: TBS

Mourning turns into outrage as Milestone students seek truth and justice

16h | Panorama
Illustration: TBS

Uttara, Jatrabari, Savar and more: The killing fields that ran red with July martyrs’ blood

1d | Panorama
Despite all the adversities, girls from the hill districts are consistently pushing the boundaries to earn repute and make the nation proud. Photos: TBS

Ghagra: Where dreams rise from dust for Bangladesh women's football

2d | Panorama

More Videos from TBS

Trump announces massive trade deal with Japan

Trump announces massive trade deal with Japan

1h | TBS World
Six unidentified bodies are yet to be identified

Six unidentified bodies are yet to be identified

2h | TBS Today
32 killed in warplane crash in Milestone, live from Burn Institute

32 killed in warplane crash in Milestone, live from Burn Institute

4h | TBS Today
What information did the director of the NBPSI give about the admitted patients?

What information did the director of the NBPSI give about the admitted patients?

14h | TBS Today
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net