Shinepukur, Bex Fisheries to be merged with Beximco Ltd
FE Report | Tuesday, 15 July 2008
Two listed issues of Beximco Group - Shinepukur Holdings and Beximco Fisheries- will be merged with Beximco Ltd subject to the approval of the High Court and the Securities and Exchange Commission (SEC).
The listed companies took the decision in separate meetings to approve the draft scheme of amalgamation with each other and disseminated the news to the website of Dhaka Stock Exchange (DSE) Monday.
The Beximco Limited (transferee company) Shinepukur Holdings Limited, real state division of Beximco Group and Beximco Fisheries Limited (transferor companies) in the meetings recommended exchanging two ordinary shares of Shinepukur and Beximco Fisheries for one ordinary shares of Beximco Limited.
Listed in 1984, Shinepukur Holdings has a total of 25,200,000 shares while Beximco Fisheries was listed in 1994 and presently it has 1,300,000 shares in the stock market.
A total of 60.25 per cent shares of Beximco Fisheries and 51.93 per cent shares of Shinepukur are owned by general public.
All issues of Beximco Group except two Z-category companies-- Shinepukur and Beximco Fisheries-dropped on Monday on the news.
Beximco Ltd is an A-category issue.
Stock prices of the Shinepukur Holdings Limited, the top gainer, and Beximco Fisheries Limited, the third top gainer, whopped 19.59 per cent and 19.37 per cent to end at Tk 44.25 and Tk 38.50 per share respectively.
But share prices of A category companies Beximco, Beximco Pharma, Beximco Synthetic, BD Online and Beximco Textile fell 6.63 per cent, 3.72 per cent, 3.06 per cent, 5.12 per cent and 0.67 per cent respectively.
Meanwhile, the DSE has de-listed Tripti following its merger with the Olympic Industries Limited with effect from today (Tuesday).
The listed companies took the decision in separate meetings to approve the draft scheme of amalgamation with each other and disseminated the news to the website of Dhaka Stock Exchange (DSE) Monday.
The Beximco Limited (transferee company) Shinepukur Holdings Limited, real state division of Beximco Group and Beximco Fisheries Limited (transferor companies) in the meetings recommended exchanging two ordinary shares of Shinepukur and Beximco Fisheries for one ordinary shares of Beximco Limited.
Listed in 1984, Shinepukur Holdings has a total of 25,200,000 shares while Beximco Fisheries was listed in 1994 and presently it has 1,300,000 shares in the stock market.
A total of 60.25 per cent shares of Beximco Fisheries and 51.93 per cent shares of Shinepukur are owned by general public.
All issues of Beximco Group except two Z-category companies-- Shinepukur and Beximco Fisheries-dropped on Monday on the news.
Beximco Ltd is an A-category issue.
Stock prices of the Shinepukur Holdings Limited, the top gainer, and Beximco Fisheries Limited, the third top gainer, whopped 19.59 per cent and 19.37 per cent to end at Tk 44.25 and Tk 38.50 per share respectively.
But share prices of A category companies Beximco, Beximco Pharma, Beximco Synthetic, BD Online and Beximco Textile fell 6.63 per cent, 3.72 per cent, 3.06 per cent, 5.12 per cent and 0.67 per cent respectively.
Meanwhile, the DSE has de-listed Tripti following its merger with the Olympic Industries Limited with effect from today (Tuesday).