Power Grid Company of Bangladesh PLC (POWERGRID) has received approval from the Bangladesh Securities and Exchange Commission (BSEC) to issue Tk1,529.19 crore of preference shares against government deposits already made with the company.
The regulator issued the consent letter on Wednesday, which was disclosed on Thursday.
The state-owned power transmission company will issue 1,52,91,94,237 irredeemable and non-cumulative preference shares with a face value of Tk10 each, totalling Tk15,291,942,370. The shares will be issued in favour of the Secretary of the Power Division under the Ministry of Power, Energy and Mineral Resources against deposit for shares as of 30 June 2025.
According to the disclosure, the issuance will increase POWERGRID’s paid-up capital by converting existing government deposits into preference shares. The move formalises government equity in the company and strengthens its balance sheet.
The BSEC approval marks a key step in managing the state-owned company’s capital structure, providing clarity on the treatment of government deposits made to support POWERGRID’s operations and expansion.
