Singer to raise Tk 250cr through preference shares

Singer Bangladesh Limited, a subsidiary of Beko, the flagship brand of Türkiye’s Koç Holding, plans to raise up to Tk 250 crore by issuing preference shares to refinance existing debt, lower its debt burden, and fund working capital.

The multinational home appliance maker will issue up to 25 crore preference shares at Tk 10 per share, the company said in a press statement yesterday.

The shares will be issued at the discretion of the issuer via private placement to the sponsor shareholder, subject to approval from the Bangladesh Securities and Exchange Commission, Singer said.

The decision comes as the company reported an increased loss of Tk 77 crore for the July-September quarter of 2026, up from nearly Tk 48 crore in the same period a year ago. With the third-quarter earnings, Singer’s overall loss in the financial year 2026 stood at over Tk 119 crore, up 5 percent year-on-year, according to its financial statements.

Singer Bangladesh’s revenue, however, increased in the third quarter to Tk 440 crore, a 6.5 percent rise from the same period a year ago. In the first nine months of the year, it reported Tk 1,854 crore in sales, up from Tk 1,780 crore a year ago.

Singer said there was a gap between expectations and actual sales due to a stagnant consumer electronics market.

“Gross profit margins improved marginally, but increased cost of sales could not be fully passed on to consumers due to intense market price sensitivity,” said the company.

Singer said it began investing in a green factory at the Bangladesh Special Economic Zone in 2022. The facility spans more than 135,000 square metres and is designed to enable over 90 percent local manufacturing, strengthen domestic supply chains, reduce import dependency and improve production efficiency. 

However, during the implementation phase, project costs escalated due to significant local currency depreciation.

Furthermore, ongoing geopolitical tensions across the Middle East and Eastern Europe, combined with domestic political transitions, have constrained local economic activity, which is yet to stabilise, it added.

“Though the unforeseen external and domestic factors have temporarily delayed expected returns, management remains committed to navigating these temporary headwinds,” it said.