BSEC approves Desco’s Tk 45.9 crore preference shares

The Bangladesh Securities and Exchange Commission (BSEC) has approved Dhaka Electric Supply Company Ltd (Desco) to issue 4.59 crore preference shares to the government, with a total face value of Tk 45.9 crore.

The state-owned power distributor disclosed the approval today in a filing on the Dhaka Stock Exchange (DSE) website.

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According to the filing, the BSEC approved the proposal in a letter dated August 31.

Desco will issue the shares at a face value of Tk 10 each against the government’s equity injections into the power distribution utility.

The irredeemable, non-cumulative preference shares cannot be redeemed or bought back by Desco, meaning the capital will remain permanently with the utility.

The shares will also not be converted into common equity, so existing retail and institutional shareholders will not be diluted.

Desco will pay dividends on the preference shares only in years when it posts a net profit.

The state-owned power distributor posted a profit of Tk 58.21 crore for the July 2025-March 2026 period.

The profit was driven by higher distribution revenue and non-operating income, along with lower exchange losses, according to its financial reports.

Shares of the company rose 1.30 percent to Tk 23.40 as of 12:02pm on the DSE yesterday.

As of July 31, 2026, the government held a 67.66 percent stake in Desco, while the remaining shares were held by institutional, general and foreign investors, DSE data showed.