Prime Bank Investment Limited (PBIL) successfully completed two significant merger deals involving listed concerns for Magura Group, solidifying its position as a leading investment bank in Bangladesh.
Pearl Paper and Board Mills Limited (transferor) merged with Bangladesh Monospool Paper Manufacturing Co. Ltd. (transferee& listed Concern), while Magura Paper Mills Limited (transferor) merged with Paper Processing & Packaging Limited (transferee& listed Concern).
Both mergers received approval from the High Court Division of the Supreme Court in November 2023, and subsequently received consent of the Bangladesh Securities & Exchange Commission (BSEC) in January this year.
The mergers were aimed at raising paid-up capital as per regulatory requirements, enhancing management efficiency, and fostering growth in respective markets.
As the advisor, PBIL played a crucial role in structuring the deals, preparing amalgamation schemes, and liaising with legal representatives and regulatory bodies.
Khandoker Raihan Ali, FCA, COO of PBIL, emphasized the firm's commitment to efficient deal execution and regulatory compliance.
Syed M Omar Tayub, managing director & CEO of PBIL, highlighted the significance of the deals in the current business landscape and reaffirmed PBIL's dedication to serving as a trusted advisor for corporations and financial institutions.
Prime Bank Investment helps Magura Group with merger deals
FE Team | Published: February 12, 2024 00:48:49
Prime Bank Investment helps Magura Group with merger deals
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