ACI to buy shares in ACI Co-Ro Bangladesh
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ACI PLC, a company listed in the pharmaceuticals and chemicals sector of the stock market, will purchase shares in its joint venture company ACI Co-Ro Bangladesh Limited.
The company will acquire 236,969 shares from its fellow shareholder Co-Ro A/S at a cost of more than Tk 9.4 million.
The information was disclosed on Sunday by the Dhaka Stock Exchange and the Chittagong Stock Exchange.
The company said its board of directors approved the share purchase at its 234th board meeting held on November 12. Although the face value of each share is Tk 100, ACI will purchase them at Tk 39.74 apiece.
The price per share was determined based on the company's net asset value calculated from its audited financial statements for the year ended June 30, 2026.
ACI will spend a total of Tk 9,417,148.06 to purchase the shares.
The company plans to complete the transaction by December 31, subject to approval from the relevant authorities.
Earlier, at its 232nd board meeting held on September 28; the company approved the formation of a joint venture named ACI Echinene Bangladesh Limited.
The proposed company will have an authorized capital of Tk 500 million and paid-up capital of Tk 150 million.
ACI will hold a 60 percent stake in the proposed company. This means ACI's investment will amount to Tk 90 million out of the total paid-up capital of Tk 150 million. However, the formation of the company and the investment will take effect subject to approval from the relevant authorities.
Meanwhile, at the same meeting, ACI's board also approved an additional equity investment of Tk 600 million in its existing joint venture, ACI Co-Ro Bangladesh Limited.
This investment will also be made subject to approval from the relevant regulatory authorities.
