Bangladesh, Sept. 3 -- The stock market regulator has allowed Dhaka Electric Supply Company (DESCO) to issue 45.9 million more irredeemable non-cumulative preference shares to the government against share money deposits.Stocks & Bonds

Advertisement The state-owned power distributor will issue the shares at the face value of Tk 10 each, totalling Tk 459 million, according to a regulatory filing on Wednesday.

The move is part of the government's efforts to convert its accumulated share money deposits given to state-owned entities into formal capital, allowing the government to obtain a return on its investment through dividends.

Preference shares-commonly known as preferred stock-entitle holders to dividends before any payouts to ordina...