BEDL to change name

The Board of Directors of Barakatullah Electro Dynamics Ltd (BEDL) has decided to change the company's name to Baraka Power Ltd from existing Barakatullah Electro Dynamics effective from April 7, 2015, officials said.

"New name of the company will be Baraka Power Limited from existing Barakatullah Electro Dynamics Limited and new trading code will be BARKAPOWER from existing BEDL," said a statement on Dhaka Stock Exchange (DSE) website.

The company has informed that, the board of directors of the company has decided to fix the record date on April 6, 2015, regarding the change of name and trading code of the company.

The fuel and power sector company listed on the DSE in 2011. The company is belonging in 'A' category. The last trading day's closing price of its share was Tk 30.2 on Wednesday.

Of the total shares - sponsor/directors held by 27.91 per cent, institutions 18.48 per cent and general public held by 53.61 per cent, according to DSE website.

The company disbursed 17 per cent stock dividend for the year ended on June 30, 2014.

The company has reported consolidated net profit after tax (excluding non controlling interests) from October'14 to December'14 was Tk 110.60 million with consolidated EPS of Tk 0.72 as against Tk 48.05 million and Tk 0.31 respectively for the same period of the previous year, according to DSE website.

Barakatullah Electro Dynamics Limited (BEDL) is a joint collaboration of local and a group of Non Resident Bangladeshi (NRB) entrepreneur. BEDL is the only private sector power generating company developed by a group of NRB investors.

The company was incorporated in Bangladesh on 26 June 2007 as a Private Limited Company. On 25 September 2008 the Company was converted to Public Limited Company.

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