ILFSL will issue shares against deposit, repayment of loan

Scam-hit International Leasing Financial Services Ltd (ILFSL) has decided to offer shares of the company against its deposit and loan installments as part of its efforts to revive the company.

The non-banking financial institution came up with the plan as it suffered losses for the third consecutive year in 2021.

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However, company data shows that it is performing a bit better now.

Its consolidated earnings per share fell to negative Tk 9.26 for the year ending December 31, 2021, from negative Tk 31.3 a year ago.

The consolidated net asset value per ILFSL share stood at negative Tk 154.19 for the year ended December 31, 2021, compared to negative Tk 144.93 a year ago .

ILFSL is one of the financial institutions that witnessed the embezzlement of thousands of taka crores by Proshanto Kumar Halder and his allies.

Today, the company informed that its board of directors has given the go-ahead for the execution of a share offering agreement subject to the approval of all relevant regulatory authorities.

Meanwhile, a Memorandum of Understanding (MoU) for Business Advisory and Issue Management Services was signed today between ILFSL and Sonar Bangla Capital Management.

Sonar Bangla was appointed to act as problem manager.

ILFSL’s share price rose 4.4% from the previous day to reach 7.10 Tk on the Dhaka Stock Exchange (DSE) today.

International Leasing’s paid-up capital was Tk 221 crore and its cumulative loss stood at Tk 3,436 crore to date, according to DSE data.

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