Bd. Thai gets time to use rights issue proceeds

Bd. Thai Aluminium, a listed company, has got an extension till December 31, 2018 to implement the 'revised' schedule of rights issue proceeds.

Following a plea made by the company, Bangladesh Securities and Exchange Commission (BSEC) allowed the company to complete the utilisation of rights issue proceeds within the extended time period.

The company earlier submitted a proposal for time extension to the BSEC after getting approval in the AGM (annual general meeting).

Bd. Thai Aluminium, presently a 'B' category company, received the rights issue proceeds on September 29, 2016 and the last date of utilisation of the proceeds was December 31, 2017.

The company was listed with the stock exchanges in 1990. The company's sponsor-directors hold 25.51 per cent shares while institutions hold 16.65 per cent, foreigners 1.17 per cent and general public 56.67 per cent.

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