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The Financial Express

IBN Sina to form subsidiary company

| Updated: January 04, 2021 16:54:17


Evaly and Fianancial Express Evaly and Fianancial Express
IBN Sina to form subsidiary company

The IBN Sina Pharmaceutical Industry has decided to form a subsidiary company named --The IBN Sina Natural Medicine--with a paid-up capital of Tk 120 million.

The board of directors has decided to form the subsidiary company aiming to comply with the legal requirements of the Directorate General of Drug Administration (DGDA), Bangladesh, according to an official disclosure on Sunday.

The board of directors of The IBN Sina Pharmaceutical has also approved the paid-up capital of Tk 120 million and authorised capital of Tk 400 million of the subsidiary company.

The IBN SINA Pharmaceutical will make the total investment of its own fund subject to completion of all regulatory formalities and approval of the concerned regulatory authorities, according to the disclosure.

Each share of the company, which was listed on the Dhaka Stock Exchange (DSE) in 1989, closed at Tk 244 on December 30, 2020, the last trading day of the outgoing year.

The company’s earnings per share (EPS) rose to Tk 3.25 for July-September 2020 as against Tk 2.86 for July-September 2019.

The net operating cash flow per share (NOCFPS) was Tk 4.78 for July-September 2020 as against Tk 5.23 for July-September 2019.

The net asset value (NAV) per share was Tk 60.13 as on September 30, 2020 and Tk 56.88 as on June 30, 2020.

The IBN Sina Pharmaceutical disbursed 38.50 per cent cash dividend for the year ended on June 30, 2020.

The company’s paid-up capital is Tk 312.44 million and authorised capital is Tk 500 million, while the total number of securities is 31.24 million.

The sponsor-directors own 44.44 per cent stake in the company, institutional investors 21.49 per cent and the general public 34.07 per cent as on November 30, 2020, the DSE data shows.

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