Beximco yesterday said it plans to 'acquire' four non-listed subsidiaries of Beximco Group, and buy lands and buildings of another.
Beximco Group's flagship company, Beximco, will issue around 1.65 ordinary shares of Tk 10 each amounting to Tk 16.5 crore for the acquisition.
The announcement of the company was posted on the website of Dhaka Stock Exchange yesterday.
The Board of Directors of the listed firm approved the issuance of the ordinary shares to acquire all shares of International Knitwear and Apparels Ltd, Beximco Fashions Ltd, Crescent Fashion and Design Ltd and Freshtex Bangladesh (Pvt) Ltd.
It also aims to buy the lands and buildings of Beximco Engineering Ltd, including BEL Tower.
All the companies are the subsidiaries of Beximco Group.
The acquisition, however, is subjected to the approval of the shareholders in an extra-general meeting on September 15 at Beximco Industrial Park in Gazipur. The record date for the meeting is August 25.
The board of Beximco also decided to increase its authorised capital from Tk 500 crore to Tk 1,000 crore. Existing paid-up capital of the company is Tk 355.50 crore.
Recently, Beximco Textiles -- commonly known as Bextex -- merged with Beximco at an exchange ratio of one Beximco share for five Bextex shares.
Source: Daily Star
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