Dhaka Electric Supply Company Ltd (DESCO) will issue Tk45.90 crore worth of preference shares to the government against its equity contribution after receiving approval from the Bangladesh Securities and Exchange Commission.
The state-run power distribution company said BSEC gave its consent through a letter dated August 31, 2026, allowing DESCO to issue 4.59 crore irredeemable non-cumulative preference shares.
Each share will have a face value of Tk10, with the entire issue to be subscribed by the Government of Bangladesh, represented by the secretary of the Power Division under the Ministry of Power, Energy and Mineral Resources.
The shares will be issued against the government’s equity contribution to DESCO, the company said in a disclosure.
An irredeemable preference share does not carry a fixed redemption date, while a non-cumulative preference share does not allow unpaid dividends to accumulate for payment in future years.
DESCO, a state-owned power distribution company, supplies electricity to large parts of Dhaka and surrounding areas.
The company’s ordinary shares, with a face value of Tk10, closed 0.43% lower at Tk23.00 on the Dhaka Stock Exchange on Wednesday.
