ACI Formulations Limited, a subsidiary of ACI Limited, has received the approval of direct listing of its shares from both Dhaka Stock Exchange (DSE) and Securities and Exchange Commission (SEC), says a press release.
The trading of the shares in both exchanges will start from November 18. ACI Limited, one of the majority shareholders of ACI Formulations, will offload only 89,87,500 ordinary shares of Tk 10.00 each under the direct listing which is 35.95 per cent of total shares of ACI Formulations.
ACI Formulations Ltd started its business in 1998 and currently it has three manufacturing units, which produce crop care and public health items, mosquito coil and Aerosol products respectively.
The estimated sale of the company is Tk 1,842 million in 2008 from Tk 74 million in 1998 with a cumulative growth rate of 38 per cent.
The estimated operating profit of the company is Tk 294 million in 2008 from Tk 17 million in 1998 with a cumulative growth rate of 33 per cent over the last 10 years. The half yearly EPS of 2008 is Tk 3.79, which is estimated at Tk 7.62 at the end 2008.
A projection meeting of ACI Formulations was held Thursday at ACI Centre at Tejgaon in the city.
ACI Formulations Managing Director M Anis Ud Dowla inaugurated the programme.
ACI Limited Managing Director Arif Dowla, ICB MD Md Ziaul Haque Khondker, ACI Agribusinesses Executive Director FH Ansarey and other high officials of ACI Limited were present at the programme.
The meeting observed that countries throughout the world are taking urgent steps to escalate the food production to ensure food safety.
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