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The state-run Padma Oil Company has signed an agreement with Energypac Power Generation Limited for the expansion of business, said an official disclosure on Wednesday.
Under the agreement, Energypac Power Generation to sell LPG by establishing LPG (Autogas) Refueling Station and Liquefied Petroleum Gas Conversion workshop parallel to the sale of Petroleum Oil through the company’s registered filling stations.
As per the agreement, the Padma Oil Company will receive royalty of Tk 0.50 against per Liter sale of LPG.
Each share of the Padma Oil Company, which was listed on the Dhaka bourse in 1976, closed at Tk 219.70 on Tuesday.
In 2019, the company disbursed 130 per cent cash dividend.
The company’s paid-up capital is Tk 982.33 million and authorised capital is Tk 1.0 billion while the total number of securities is 98.23 million.
The sponsor-directors own 2.06 per cent stake of the company, while the government owns 50.35 per cent, institutional investors own 29.66 per cent, foreign investors 1.18 per cent and the general public 16.75 per cent as on July 31, 2020, the DSE data shows.