Home / Knowledge / News / Textiles / Bangladesh's Beximco to acquire four Group subsidiaries

Bangladesh's Beximco to acquire four Group subsidiaries

30
Mar '12
Bangladesh Export Import Company Ltd. or Beximco, the flagship company of Beximco Group, the largest private sector employer in Bangladesh, has received approval from the country's Securities and Exchange Commission (SEC), to acquire four non-listed subsidiaries of Beximco Group.

Beximco will buy all shares of the four textile and garment companies – Crescent Fashion and Design Ltd., International Knitwear and Apparels Ltd., Freshtex Bangladesh (Pvt) Ltd. and Beximco Fashions Ltd.

To raise the capital to purchase the four companies, Beximco will issue 8.063 million ordinary shares of Tk 10 each, according to a statement by the SEC. The newly issued shares would have a lock-in period of three years.

After issuing the new shares, Beximco's paid-up capital will grow from existing Tk 3.55 billion to over Tk 3.63 billion.

In August 2006, Beximco Group merged its four textile units into one unit, Beximco Textiles or Bextex.

In 2011, Bextex was merged with Beximco.

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Textiles | On 26th Feb 2020

UK risks losing up to 14% of exports to EU if no deal: UN

Non-tariff measures could cause major fractures in post-exit UK-EU...

Pic: Shutterstock

Textiles | On 26th Feb 2020

Turkey's textile industry employs 1.67 mn: minister

Turkey's textile and garment industry currently employs around 1.67...

Pic: UNCTAD

Textiles | On 26th Feb 2020

Barbados unveils one-stop investment guide

As Barbados prepares to host the 15th quadrennial conference of the...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

African fashion has a strong identity

Pinkesh Jain, Everflow Petrofils Ltd

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Abhishek Ganguly, Puma India

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Tina Antoniades,

Tina Antoniades

India-headquartered Lulu & Sky is a rapidly escalating brand with the...

Himanshu Jariwala,

Himanshu Jariwala

J Korin started as a partnership firm with four powerlooms in the textiles ...

Riddhi Jain,

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Thomas Ong P S, NanoTextile

Thomas Ong P S
NanoTextile

Malaysian company NanoTextile Sdn Bhd taps into the potentials of...

Iago Castro Asensio, RCfil Distribuciones S.L.

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Mr Ambrose Chan, DSG International (Thailand) PLC

Mr Ambrose Chan
DSG International (Thailand) PLC

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

Sneha Arora, Label Sneha Arora

Sneha Arora
Label Sneha Arora

Sneha Arora, an alumnus of National Institute of Fashion Technology,...

Rupa Sood and Sharan Apparao, Nayaab

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


February 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search