News Briefs-(05-01-2018)

RSRM Steel revises issue price of rights

The board of directors of Ratanpur Steel Re-rolling Mills (RSRM) has reduced the issue price of proposed rights shares. Now the company proposed two rights shares for existing three shares at Tk 20, including a premium of Tk 10 each, instead of earlier recommended of Tk 25, including premium of Tk 15 each of a ten taka share. The EGM is scheduled to be held on February 17 at 11am in Chittagong. The record date for EGM is on January 24. Another record date will be declared for rights issuance after getting approval from the securities regulator.— FE Report

Tallu, Mithun to change co names

The boards of directors of Tallu Spinning Mills and Mithun Knitting and Dyeing have decided to change their companies' names, according to information of Dhaka Stock Exchange (DSE). The companies will hold extra-ordinary general meeting (EGM) to seek shareholders' approval to change the companies' names. After taking shareholders' approval, the name of Tallu Spinning Mills will be Toyo Spinning Mills. On the other hand, the name of Mithun Knitting & Dyeing will be Toyo Knitex. The companies' EGM will be held on February 2, 2018 at Kaltapara Bazar, Gouripur, Mymensingh. Mithun Knitting and Dyeing was listed with the stock exchanges in 1994. The company was downgraded to 'Z' category from 'A' category for not recommending dividend for the year ended on June 30, 2017. Tallu Spinning Mills, a 'Z' category, was listed with the stock exchanges in 1990.

— FE Report