Vol. 5 Num 816 Tue. September 12, 2006  

DSE okays merger of 4 Beximco textile units

As Dhaka Stock Exchange (DSE) yesterday approved the amalgamation of four textile units of Beximco Group -- Padma Textile, Beximco Textiles, Beximco Denims and Beximco Knitting -- shares of the companies will be traded under a new title, Bextex, from tomorrow.

The approval of the merger came at a board meeting of the premier bourse in Dhaka.

Earlier in June this year, Beximco merged its four textile units as part of its new growth strategy. In August, Beximco appealed to the DSE for approval of the merger of the four units.

The DSE board meeting also approved the information documents of Power Grid Company of Bangladesh (PGCB) for its listing with the DSE.

Now, the PGCB will have to publish its information documents in at least two widely circulated national dailies at least seven days before the commercial trade on stock exchanges.

"We will announce the date of debut of share trading of PGCB when we receive the printed information documents," said Salahuddin Ahmed Khan, chief executive officer of DSE.

The PGCB will offload 91,08,940 shares with a face value of Tk 100 each to raise about Tk 91.09 crore from country's capital market.