SK Trims & Industries has constructed first '5.5 storied' building through IPO fund with a view to enhance its production capacity.
The company's board of directors confirmed the completion of building construction through a disclosure posted on the website of Dhaka Stock Exchange (DSE).
The disclosure said production capacity of the garments accessories unit after installation of machinery will increase 30 per cent than before.
The newly-constructed building has a total space of 19,250 square feet (3,500 square feet per floor).
"Sales revenue of the company will be 1.95 billion (approximately) per year and Tk 350 million (approximately) profit after tax at optimum utilisation level," according to the disclosure made by SK Trims.
SK Trims, presently an 'A' category company, was listed on the stock exchanges in 2018.
The company's sponsor-directors hold 30.21 per cent shares, institutions 29.49 per cent and general public 40.30 per cent as on January 31, 2020.
The company's share price closed at Tk 62.10 each with a rise of 1.65 per cent or Tk 1.0.