Desk Report: Bashundhara Paper Mills has informed that Xtreme Mosquito Coil has started its commercial operation as a new product of the Bashundhara Paper, reports The Financial Express.
According to an official disclosure on Monday, daily capacity of 1.0 million coil producing plant has set a yearly production target of 36 million box coil.
As a result of this, total yearly sales revenue of the company is expected to grow up by more than Tk 1.0 billion approximately, said the disclosure. Bashundhara Paper Mills, a concern of the country’s leading business conglomerate, Bashundhara Group, raised a capital worth Tk 2.0 billion by floating more than 26 million ordinary shares under the book-building method. Funds raised from the IPO will be spent on buying new machinery, repaying loans and bearing the IPO expenses.
The company made its share trading debut on the country’s stock exchanges on July 02, this year. Each share of the company closed at Tk 123.50 on Sunday at the DSE.
The company’s (un-audited) net profit after tax stood at Tk 321.76 million in the nine months for the period from July, 2017 to March, 2018.
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