Delisted Jago Corp sets sights on business comeback under new owners | The Business Standard
Skip to main content
  • Latest
  • Epaper
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Friday
June 20, 2025

Sign In
Subscribe
  • Latest
  • Epaper
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
FRIDAY, JUNE 20, 2025
Delisted Jago Corp sets sights on business comeback under new owners

Stocks

Rafiqul Islam
29 February, 2024, 09:45 pm
Last modified: 01 March, 2024, 10:13 am

Related News

  • Bangladesh calls for separate South Asia-China platform to tackle climate risks
  • DSE serves query to Lovello over unusual share price hike
  • Study finds alarming mercury levels in popular skin creams sold in Bangladesh
  • ICAB says only its members have legal statutory audit rights
  • Adviser calls for joint effort to protect hilsa, regulate pricing

Delisted Jago Corp sets sights on business comeback under new owners

Rafiqul Islam
29 February, 2024, 09:45 pm
Last modified: 01 March, 2024, 10:13 am
Infograph: TBS
Infograph: TBS

Jago Corporation, which has been delisted from the mainboard of stock exchanges since 2009, hopes for a comeback to the business under its new ownership – Younus Group. 

The business group has acquired the firm through the purchase of over 26% of its shares from its sponsor-directors for Tk2.35 crore, with a plan to resume operations. 

The new owner also expects to bring Jago Corporation, which was engaged in assembling and marketing water purifiers, to the small-cap board of the Dhaka Stock Exchange (DSE).

Previously, business conglomerate Younus Group acquired Perfume Chemical Industries in 2023 and Sonali Paper and Board Mills in 2006 from the OTC board.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

The transfer was subject to submitting a strategic plan regarding fundraising, resuming production, and executing necessary share transfers, according to a notification by the Bangladesh Securities and Exchange Commission. 

In December last year, the purchase deal was executed, according to company officials. Though the company did not disclose the share purchase price, officials said the new owner bought each share at a face value of Tk100. After acquiring, the new owner split each share into ten, as the face value was Tk100 on the OTC. 

Now, to fulfill the regulator's requirement, the new owner has decided to issue another 90 lakh ordinary shares at Tk10 to increase paid-up capital for BMRE and working capital. 

After the share issuance, the paid-up capital of Jago Corporation will increase to Tk18 crore from the existing Tk9 crore. The new shares will be offered to existing shareholders in cash consideration against share money deposits as investments by all shareholders, according to the company.

Md Atikul Islam, company secretary of Jago Corporation, told The Business Standard, "The new management acquired around a 26% stake. Now, we are working to resume its operation as soon as possible."

According to the CSE, after executing the share purchase deal, Younus Group took control of the board of Jago Corporation, with Mohammed Yunus as chairman, Mahfuza Younus as director, and Mohammed Rashedul Islam as managing director.

According to the CSE, on 20 November last year, Md Rabiul Islam, one of the sponsor-directors of Jago Corporation, decided to sell his entire holdings of 2,15,125 shares, equivalent to 23.90%, to Mohammed Yunus and Mahfuza Younus within 30 working days — 1,15,125 shares or 12.79% and 1 lakh shares, or 11.11%, respectively.

Mohammed Rashedul Islam purchased 20,000 shares, equivalent to a 2.22% stake, from Md Sharif Uddin Khandakar, one of the directors of Jago Corporation.

Md Rabiul Islam said, "We left the ownership after selling the entire stake as we are facing a working capital shortage to run the business. That's why we sold the sponsor-directors' portion at Tk100 each."

He added, "We went to banks for financing to run our business, but did not get financing, which led to selling the entire stake in the company."

Top News

Jago Corporation / Younus Group of Industries / Bangladesh

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Vice-Chair of the National Consensus Commission Ali Riaz briefing reporters on 19 June. Photo: Screengrab
    Most parties agree upon amending presidential election process, BNP for existing method
  • Emergency workers at Soroka Medical Center after an Iranian missile strike, Israel June 19, 2025. Photo: Reuters
    Khamenei 'cannot continue to exist', Israeli defence minister says after hospital strike
  • US President Donald Trump speaks to members of the media during the installation of a new flagpole on the South Lawn at the White House in Washington, DC, US, June 18, 2025. Photo: Reuters
    Trump to decide on US action in Israel-Iran conflict within two weeks, White House says

MOST VIEWED

  • BAT Bangladesh to shut Mohakhali factory, relocate HQ after lease rejection
    BAT Bangladesh to shut Mohakhali factory, relocate HQ after lease rejection
  • Logo of Beximco Group. Photo: Collected
    Beximco defaults on €33m in Germany, Deshbandhu owes Czech bank €4m
  • Students attend their graduation ceremony. REUTERS/Brian Snyder/File Photo
    US resumes student visas but orders enhanced social media vetting
  • Mashrur Arefin appointed Chairman of the Association of Bankers Bangladesh
    Mashrur Arefin appointed Chairman of the Association of Bankers Bangladesh
  • Logo of Beximco Group. Photo: Collected
    BSEC to probe overall operations of five listed firms, three belongs to Beximco
  • Infographics: TBS
    Pvt sector's foreign loan rises by $454m on stable exchange rate, reserve in three months

Related News

  • Bangladesh calls for separate South Asia-China platform to tackle climate risks
  • DSE serves query to Lovello over unusual share price hike
  • Study finds alarming mercury levels in popular skin creams sold in Bangladesh
  • ICAB says only its members have legal statutory audit rights
  • Adviser calls for joint effort to protect hilsa, regulate pricing

Features

Evacuation of Bangladeshis: Where do they go next from conflict-ridden Iran?

Evacuation of Bangladeshis: Where do they go next from conflict-ridden Iran?

1d | Panorama
The Kallyanpur Canal is burdened with more than 600,000 kilograms of waste every month. Photo: Courtesy

Kallyanpur canal project shows how to combat plastic pollution in Dhaka

2d | Panorama
The GLS600 overall has a curvaceous nature, with seamless blends across every panel. PHOTO: Arfin Kazi

Mercedes Maybach GLS600: Definitive Luxury

3d | Wheels
Renowned authors Imdadul Haque Milon, Mohit Kamal, and poet–children’s writer Rashed Rouf seen at Current Book Centre, alongside the store's proprietor, Shahin. Photo: Collected

From ‘Screen and Culture’ to ‘Current Book House’: Chattogram’s oldest surviving bookstore

4d | Panorama

More Videos from TBS

Bribery exposed: BBS report reveals year’s dark data

Bribery exposed: BBS report reveals year’s dark data

10h | TBS Today
Is the story of nuclear weapons just to justify military operations?

Is the story of nuclear weapons just to justify military operations?

11h | TBS World
What are the political parties saying about the presidential election and power?

What are the political parties saying about the presidential election and power?

11h | TBS Today
Pakistan Army Chief urges US not to get involved in Iran-Israel war

Pakistan Army Chief urges US not to get involved in Iran-Israel war

13h | Others
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net