Dhaka, May 27 -- The stock market regulator has given permission to the Dhaka Electric Supply Company (DESCO) to issue another 2.38 million preference shares to the government against share money deposits.

The state-owned power distributor will issue shares worth Tk 23.81 million at a face value of Tk 10 each, according to a stock exchange filing on Monday.

The preference shares will be non-cumulative in nature, meaning the government will not be entitled to the missed dividends.

In July last year, the power supplier issued 607.69 million preference shares to the government against share money deposits to comply with a regulatory directive.

The company prefers to issue preference shares, considering that existing shareholders will not...