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Square Pharma to set up subsidiary worth Tk 3.50b

FE Report | February 18, 2020 00:00:00

Square Pharmaceuticals Ltd on Monday decided to establish a wholly-owned subsidiary company named - Square Lifesciences Ltd- to manufacture pharmaceuticals oral solid dosage products.

"Initial estimated total project cost will be Tk 3.50 billion to be financed by internally generated funds by the Square Pharmaceuticals and sponsors of Square Lifesciences Ltd," the company said in a statement.

The company is expected that the project would be completed by June 2023.

Each share of the company, which was listed on the Dhaka bourse in 1995, closed at Tk 206.10 on Monday, gaining 1.07 per cent over the previous day.

Its share traded between Tk 161 and Tk 277.30 in the last one year.

Square Pharma, the top local pharmaceutical company disbursed 42 per cent cash and 7.0 per cent stock dividend for the year ended on June 30, 2019.

The company's consolidated earnings per share stood at Tk 8.16 for July-December 2019 as against Tk 7.46 for July-December 2018.

The consolidated net operating cash flow per share (NOCFPS) was Tk 5.88 for July-December 2019 as against Tk 6.83 for July-December 2018.

The consolidated net asset value (NAV) per share was Tk 84.12 as on December 31, 2019 and Tk 80.40 as on June 30, 2019.

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