Bangladesh Thai Aluminium, which raised Tk 523.34 million through rights shares, installed machinery to enhance production capacity.
The company has successfully installed the 4th extrusion press, anodization plant-2, substation and other development works as per rights offer documents, according to a disclosure posted on the Dhaka Stock Exchange (DSE) website on Thursday.
The company has also built the infrastructures for powder coating plant for the production of most modern, durable powder coated and wooden textured aluminium profiles to be in market soon.
The company has also installed two new diesel generators for uninterrupted power supply to support the increased production capacity.
These expansions from rights share offer fund has almost doubled the rated production capacity of the company.
The company has also paid off some of the existing outstanding loans as per rights offer documents.
Other relevant works as per rights offer documents is in progress.
BD Thai Aluminium, which was listed on the DSE in 1990, disbursed 5.0 per cent stock dividend for the year ended on June 30, 2017.
On the Dhaka Stock Exchange (DSE), the company’s share price closed at Tk 31.10 on Wednesday.
The company’s paid-up capital is Tk 1.15 billion and authorised capital is Tk 2.0 billion, while the total number of securities is 115.39 million, the DSE data showed.
The sponsor-directors own 23.36 per cent stake in the BD Thai Aluminium, while institutional investors own 0.57 per cent, foreign stake holders 0.90 per cent and the general public own 75.17 per cent as of November 30, 2017.