ACI Ltd announced that it would enter the Bangladeshi herbal medicine market by establishing a new subsidiary, ACI Herbal and Nutraceuticals Ltd. In a statement posted on the Dhaka Stock Exchange (DSE) today, the conglomerate stated that the new company would have Tk 100 crore in authorized capital and Tk 10 crore in paid-up capital. At 12 p.m. today, ACI’s shares fell 0.60 percent to Tk 148.50 on the DSE.
85 percent of the subsidiary will be owned by ACI. At the January 30 board meeting of the corporation, the decision was made. The company stated in a filing that the formation is dependent upon the permission of the appropriate authorities. In the October-December quarter of the current fiscal year, the diverse business firm reported a loss of Tk 17.68 crore, which represents a 50% decrease from the previous year. In the second quarter of the fiscal year ACI’s loss per share was Tk 3.17, down from Tk 5.51 in the same period last year.
Source: The Daily Star
