Berger Paints rights share subscription starts 15 July
To identify the shareholders eligible for the right shares, the company has fixed the record date on 29 June
Public subscription for the right shares of Berger Paints Bangladesh Limited is set to start on 15 July and continue till 3 August.
To identify the shareholders eligible for the right shares, the company has fixed the record date on 29 June.
Those who hold the company's shares till the record date will be the eligible shareholders, says officials familiar with the matter.
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Earlier, on Tuesday, the Bangladesh Securities and Exchange Commission (BSEC) approved the company's rights shares offer.
According to the BSEC, Berger Paints has been allowed to issue 2,728,111 ordinary shares with a face value of Tk10 each and a premium of Tk1,100 per share. After the sponsors, directors, and shareholders holding 5% or more shares renounce their rights, the company aims to raise a total of Tk302.82 crore through this issuance.
The proceeds from the rights share issue will be used to establish a third manufacturing plant in the National Special Economic Zone and to cover expenses related to the rights offering.
IDLC Investments Limited is acting as the issue manager for the rights offering
