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ACI to set up new subsidiary company

FE Online Report | Published: September 27, 2019 18:27:22 | Updated: September 29, 2019 16:30:54


Advanced Chemical Industries Ltd (ACI), a listed company with local bourses, has decided to set up a new subsidiary company named – ‘ACI Marine and Riverine Technologies Ltd’.

The decision was taken at the company’s 189th meeting of board of directors held on Thursday in the capital.

The paid-up capital of the proposed subsidiary company will be Tk 100 million and authorised capital will be Tk 500 million  having 77 per cent ownership in the ACI Ltd, according to an official disclosure on Friday.

Setting up the subsidiary company is subject to approval of concern authority, said the disclosure.

The ACI was listed on the Dhaka bourse in 1976. The pharma sector company belongs to the “A” category.

Each share of the company traded between Tk 257 and Tk 267.50, before closing at Tk 257.60 on Thursday at the prime bourse.

The company’s per share price hovered between Tk 240 and Tk 398 in the past one year.

The company’s consolidated earnings per share (EPS) turned negative to Tk 6.25 for January-March 2019 as against Tk 0.93 for January-March 2018.

In nine months for July 2018 to March 2019, its consolidated EPS was also negative Tk 5.81 for as against Tk 8.64 for July 2017-March 2018.

The consolidated net operating cash flow per share (NOCFPS) was negative Tk 67.72 for July 2018-March 2019 as against negative Tk 64.16 for July 2017-March 2018.

The consolidated net asset value (NAV) per share was Tk 206.06 as on March 31, 2019 and Tk 222.09 as on June 30, 2018.

The company disbursed 115 per cent cash and 3.50 per cent stock dividend for the year ended on June 30, 2018.

The company’s paid-up capital is Tk 498.89 million and authorised capital is Tk 1.50 billion while total number of securities is 49.88 million.

The sponsor-directors own 35.28 per cent stake in the company, while the institutional investors own 41.75 per cent and the general public 22.97 per cent as of August 31, 2019, the DSE data showed.

ACI Ltd is one of the largest conglomerates in Bangladesh with a multinational heritage operates across the country through its four diversified strategic business units.

 ‘ACI Pharmaceuticals’ is dedicated to improve the health of people of Bangladesh through introduction of innovative and reliable pharmaceuticals products, according to its website.

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