Runner Auto Sustainability Bond lists on ATB, no trades on debut day
With this addition, the DSE ATB platform now hosts seven bonds and one equity security
Runner Auto Sustainability Bond debuted on the Alternative Trading Board (ATB) of the Dhaka Stock Exchange (DSE) today (20 August), but no trades were executed on its opening day.
The bond's adjusted opening price was set at Tk9.72 lakh per unit, against a face value of Tk10 lakh each.
Earlier in the day, Runner Automobiles PLC and the DSE signed a listing agreement for the bond at the bourse's office.
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The agreement was inked by DSE Senior Manager and Head of OTC Market Ishrat Jahan and Runner Automobiles Chief Financial Officer Shanat Dutta.
Speaking at the signing ceremony, Asadur Rahman, chief operating officer and acting managing director of the DSE, said, "After a long break, a new security has been listed on the ATB, for which we thank Runner Automobiles. To simplify and accelerate the IPO process, we are introducing a digital application system that will allow companies to apply simultaneously to both the DSE and BSEC, and track the progress of their applications. The DSE is also planning to provide new facilities to encourage more companies to get listed."
Runner Automobiles Managing Director and CEO Nazrul Islam, highlighted the broader impact of the sustainability bond.
He said the proceeds would benefit the country in three ways: generating renewable energy through rooftop solar, producing three-wheelers to improve transport accessibility for low-income groups, and providing indirect lending support to underprivileged people through installment-based vehicle sales.
With this addition, the DSE ATB platform now hosts seven bonds and one equity security.
In July 2023, Runner Automobiles issued Bangladesh's first-ever internationally certified sustainability bond, raising Tk265 crore with regulatory approval. MetLife Bangladesh subscribed Tk257 crore, or 96% of the issuance.
GreenDelta Capital acted as the lead arranger and advisor, while DBH Finance served as the trustee. The bond carries a full guarantee from GuarantCo, part of the Private Infrastructure Development Group.
Runner Automobiles, a key player in the country's automobile sector, reduced its losses to Tk6.10 crore in FY24 from a staggering Tk88 crore in FY23. The company also returned to profitability in the nine months through March this year, posting Tk80 lakh in profit.
