The board of directors of Renata Limited has decided to set up a subsidiary company in Ireland fulfilling the European regulatory requirement for export to the European Union (EU) countries.
Renata, a pharmaceutical and animal health products manufacturer, has informed the Dhaka Stock Exchange (DSE) of its decision which was published on the DSE website on Thursday.
In May last year, the board of directors of Renata had decided to establish the subsidiary company in the UK, but now they have changed the decision as the UK is on track to withdraw from the European Union.
Now the company has decided to establish a new company in another EU country (Ireland) to export to the EU countries uninterruptedly, according to the disclosure.
Renata Limited, listed on the Dhaka bourse in 1979, disbursed 95 per cent cash and 15 per cent stock dividend for the year ended on June 30, 2018.
On Thursday, each share of the drug maker closed at Tk 1,176.60, climbing 1.36 per cent over the previous day.
The company's paid-up capital is Tk 805.36 million, authorised capital is Tk 1.0 billion and the total number of securities is 80.53 million.
Sponsor-directors of the company own 51.16 per cent stake in the company while institutional investors 19.10 per cent, foreign investors 22.39 per cent and general public 7.35 per cent as on January 31, 2019.
The company's consolidated earnings per share (EPS) stood at Tk 21.08 for July-December period of 2018, as against Tk 17.46 for the same period of 2017.
The consolidated net operating cash flow per share (NOCFPS) was Tk 35.34 for July-December 2018 as against Tk 27.05 for July-December 2017.
The consolidated NAV per share was Tk 205.28 as on December 31, 2018 and Tk 192.56 as on June 30, 2018.
Renata Limited (formerly Pfizer Limited) is one of the leading and fastest growing pharmaceutical and animal health product companies in Bangladesh.
The company started its operations in 1972 as Pfizer (Bangladesh). In 1993, Pfizer transferred the ownership of its Bangladesh operations to local shareholders and the name of the company was changed to Renata Limited.
The core businesses of Renata are human pharmaceuticals and animal health products.
Presently, there are three subsidiaries of Renata -- Renata Agro Industries, Purnava Limited and Renata Oncology Limited, according to its website information.
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