The board of directors of Intech Limited has taken a decision to subscribe 40 per cent of the ordinary share capital of China-BD Tech Ltd (proposed), said an official disclosure on Wednesday.
The amount of initial investment will be Tk 320,000. In future, the investment will increase to Tk 3,200,000.
The board has also decided to increase the authorised capital of the company to double from Tk 300 million to Tk 600 million.
In this regard, the board will conduct an extraordinary general meeting (EGM) on March 28 at 10:00am at Raowa Club at Mohakhali in Dhaka.
The record date for EGM is on February 22.
Each share of the company, which was listed on the Dhaka bourse in 2002, closed at Tk 17.70 on Tuesday at Dhaka Stock Exchange (DSE).
The company’s paid-up capital is Tk 282.17 million and authorised capital is Tk 300 million, while the total number of securities is 28.21 million.
The sponsor-directors own only 4.77 per cent stake in company, while institutional investors own 6.19 per cent and the general public 89.04 per cent as on December 28, 2017, the DSE data shows.