Dhaka, Bangladesh (BBN)- Bangladesh Export Import Company, generally known as Beximco, has received regulatory approval to acquire four non-listed subsidiaries of Beximco Group.
The Securities and Exchange Commission (SEC) gave the permission at a meeting with its Chairman Professor M Khairul Hossain in the chair, a SEC statement said.
Beximco Group’s flagship company, Beximco, will acquire all shares of International Knitwear and Apparels Ltd, Beximco Fashions Ltd, Crescent Fashion and Design Ltd and Freshtex Bangladesh (Pvt) Ltd.
Beximco will issue 8.063 million ordinary shares of BDT 10 each to acquire the shares of the four companies, the SEC said, adding that the newly issued shares will be locked-in for three years.
After issuance of the new shares, paid-up capital of Beximco will reach more than BDT 3.63 billion from existing BDT 3.5550 billion.
BBN/SSR/AD-29Mar12-8:10 am (BST)