Raising of paid up capital of Keya Cosmetics approved

The securities regulator has given its consent to the proposal of raising paid-up capital worth over Tk 3.21 million by Keya Cosmetics through merger and amalgamation process, officials said.
The three companies which will be merged with Keya Cosmetics are: Keya Knit Composite, Keya Cotton Mills and Keya Spinning Mills.   
The regulatory approval to the proposal of merger and amalgamation process of Keya Cosmetics came Wednesday at a commission meeting held at the office of the Bangladesh Securities and Exchange Commission (BSEC).
Keya Cosmetics, the transferee company, will allot above 321.95 million ordinary shares of Tk 10 each to the existing shareholders of Keya Knit Composite, Keya Cotton Mills, and Keya Spinning Mills.
After the completion of merger and amalgamation process, the paid-up of Keya Cosmetics will stand at above Tk 5.01 billion from existing paid-up capital worth over Tk 1.79 billion.
The regulator gave its consent to proposal of raising capital by Keya Cosmetics in accordance with the consent delivered by a division bench of the High Court (HC) on December 7, 2014.
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