Envoy Textiles Limited (DSE:ENVOYTEX) announced a private placement of 87,000,000 preference shares at a price of BDT 10 for gross proceeds of 870,000,000 on July 4, 2019. The transaction includes participation from potential investors, like banks, insurance companies, institutional investors and eligible investors. The preference shares are non-convertible and redeemable and have maturity period of five years. The company will pay cumulative dividend semi-annually at a fixed rate. The company will issue shares at par. The transaction is subject to approval of Bangladesh Securities and Exchange Commission.