Titas Gas Transmission and Distribution Company will issue preference shares worth Tk282.75 crore to convert cumulative government investments into equity.
The Bangladesh Securities and Exchange Commission (BSEC) approved the issuance of irredeemable non-cumulative preference shares in favour of the Finance Division under the Ministry of Finance, the company said in a disclosure on Monday.
Titas will issue 28,27,47,469 preference shares at a face value of Tk10 each, representing government equity provided to the company up to 30 June 2023.
The move formalises state investment into the company’s capital structure, improving ownership clarity and financial transparency.
Shareholders approved the proposal at the 5th extraordinary general meeting on 24 December 2025. The company later sought regulatory clearance, which BSEC granted on 15 April.
Preference shares differ from common shares in that they generally do not carry voting rights but have priority over ordinary shareholders in receiving dividends and in claims on assets.
However, irredeemable non-cumulative preference shares do not guarantee dividend payments and do not require repayment of principal. Investors’ returns depend on company performance and board decisions.
Titas Gas, a state-owned entity, is one of the country’s largest gas distribution companies, supplying natural gas to households, industries and commercial users.
Titas Gas shares, having a face value of Tk10, inched up 0.59 per cent to Tk17 apiece on the Dhaka Stock Exchange on Monday.
