TBS Report
26 October, 2026, 11:00 am
Last modified: 26 October, 2026, 11:04 am
GPH Ispat Ltd has deferred its proposed rights share issue worth Tk968 crore due to prevailing capital market conditions, citing the need to protect the interests of the company and its general shareholders.
The decision was reviewed at a board meeting on Saturday (24 October) and subsequently placed before shareholders at the company’s annual general meeting on 25 October, where it was formally deferred.
Following the disclosure filed with the Dhaka Stock Exchange on Monday, the company’s share price remained unchanged at Tk15.80.
The steelmaker had planned to raise nearly Tk968 crore by issuing 96.78 crore rights shares at Tk10 each, at a ratio of two rights shares for every existing ordinary share.
The proceeds were primarily intended to repay bank loans amid sluggish demand and persistent energy shortages affecting the domestic steel industry.
The company said the proposal would be reconsidered and an appropriate decision taken in due course, depending on future market conditions and regulatory assessments.
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