Beximco Synthetics to repurchase shares worth Tk 59 crore

Beximco Synthetics, a company owned by Beximco, the country’s leading business group, is being shut down to reduce losses. It has been decided to close the listed company 30 years after the start of the journey to avoid losses.

The company authorities officially informed the investors about this decision on Tuesday. Besides, steps have been taken to delist the company from the stock market.

  Learn about the COVID-19 pandemic from News Hour  

However, the company authorities will buy back all the shares from the market except the share of the entrepreneurs, so that the investor’s shares are not harmed. Through this, the company has taken the initiative to voluntarily delist from the stock market.

An application was also made to the Bangladesh Securities and Exchange Commission (BSEC) seeking the necessary instructions.

Since 2013, the company has not been able to pay any dividends to stock market investors. For this reason, it is classified as ‘Z’ on two stock exchanges of the country as a bad quality company.

Beximco will be bought back its shares from investors in the stock market at a face value of Taka 10.

Follow News Hour
News Hour Correspondent

This article has been posted by a News Hour Correspondent. For queries, please contact through [email protected]
No Comments
Scroll Up
%d bloggers like this: