The Bangladesh Thai Aluminium, which raised Tk 523.34 million through issuance of rights shares, installed machinery to enhance production capacity.
"The company has successfully installed the 4th extrusion press, anodization plant-2, substation and did other development work as per rights offer documents," according to a disclosure posted on the Dhaka Stock Exchange (DSE) website on Thursday.
The company has also built infrastructure for its powder coating plant for production of most modern, durable powder-coated and wooden-textured aluminium profiles to be in the market soon, it said.
The aluminium panel producer has also installed two new diesel generators for uninterrupted power supply to support the increased production capacity.
The expansion work with the rights share offer fund has almost doubled the production capacity of the company.
The company has also paid off some of the existing outstanding loans as per rights offer documents.
"Other relevant work as per rights offer documents is in progress," the disclosure said.
BD Thai Aluminium raised Tk 523.34 million by issuing 52.34 million rights shares in September last year for enhancement of production capacity and loan repayment.
On the DSE, the company's share price closed at Tk 30.40 on Thursday, losing 2.25 per cent over the previous session.
The company's first quarter (Q1) un-audited earnings per share (EPS) stood at Tk 0.20 for July-September, 2017 against Tk 0.24 for July-September, 2016.
The BD Thai Aluminium, which was listed with the DSE in 1990, disbursed 5.0 per cent stock dividend for the year ended on June 30, 2017.
Recently, the company was downgraded to "B" category from "A" category as the company disbursed only 5.0 per cent stock dividend for the year ended on June 30, 2017.
The company's paid-up capital is Tk 1.15 billion and authorised capital is Tk 2.0 billion, while the total number of securities is 115.39 million, the DSE data shows.
The sponsor-directors own 23.36 per cent stake in the BD Thai Aluminium while institutional investors own 0.57 per cent, foreign stake holders 0.90 per cent and the general public own 75.17 per cent as of November 30, 2017.
© 2024 - All Rights with The Financial Express
