Shurwid to expand business

Shurwid Industries has decided to expand its business in four new sectors subject to amendment of memorandum of association.
The company's board of directors has approved the decision of approving memorandum of association, according to a disclosure posted on the website of Dhaka Stock Exchange (DSE).
The company's chairman Mahmudul Hasan said they would start business in the sectors such as IT, petroleum, solar power and thermoplastic.
"Shurwid Industries has also decided to increase authorised capital of the company to Tk 1.5 billion from Tk 1.0 billion," Hasan said.
To start business and expand authorised capital, the company will take the shareholders' approval at an extra-ordinary general meeting to be held on November 5 next.
In order to start business in new sector, the company has already signed an agreement with lnfosapex on June 26, 2019.
Though the securities rules have the provision for maintaining a designated website by the listed companies, the Shurwid Industries presently has no official website.
In this regard, the company's chairman said their official website is under processing.
Shurwid Industries, presently an 'A' category company, was listed on the stock exchanges in 2014.
The company's sponsor-directors hold 9.99 per cent shares, institutions 21.47 per cent and general public 68.54 per cent as on July 31, 2019.
The company's share price closed at Tk 27.20 each on Sunday with a marginal rise of 0.37 per cent or Tk 0.1.

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