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Paper Processing Gains BSEC Approval for Significant Paid-Up Capital Surge

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Paper Processing

In a significant development, Paper Processing & Packaging Limited has obtained approval from the Bangladesh Securities and Exchange Commission (BSEC) for augmenting its paid-up capital through amalgamation, as detailed in their letter no. BSEC/CFD/CRD/M&A/2023/244/31 dated Jnauary 30, 2024.

This follows a prior endorsement from the BSEC, letter no. BSEC/CI/CPLC (Public)-1090/2023/1521 dated November 28, 2023, for raising the paid-up capital through the issuance of 8% Bonus Shares on January 18, 2024.

The company’s paid-up capital, initially at Tk. 10 crore 44 lakh 96 thousand in December 2023, saw an increase to Tk. 11 crore 28 lakh 55 thousand 680 post the approval and crediting of bonus shares on January 18, 2024. Further amplifying this growth, Paper Processing is set to issue 1 lakh 83 thousand 17 thousand 810 Ordinary Shares through merger, propelling the paid-up capital to a substantial Tk. 29 crore 60 lakh 33 thousand 780.

Sequence of Paid-Up Capital Increase:

December 2023: Paid-up capital – Tk. 10 crore 44 lakh 96 thousand.
January 18, 2024: Bonus shares issued – Tk. 83 lakh 59 thousand 680.
Post 18.01.2024: Paid-up capital – Tk. 11 crore 28 lakh 55 thousand 680.
Through Merger: Paid-up capital to be raised – Tk. 18 crore 31 lakh 78 thousand 100.
Post Merger: Paid-up capital – Tk. 29 crore 60 lakh 33 thousand 780.

Sequence of Paid-Up Shares Increase:

December 2023: Paid-up shares – 1 crore 04 lakh 49 thousand 600.
18.01.2024: Bonus shares added – 8 lakh 35 thousand 968.
Post 18.01.2024: Paid-up shares – 1 crore 12 lakh 85 thousand 568.
Through Merger: Paid-up shares to be raised – 1 crore 83 lakh 17 thousand 810.
Post Merger: Paid-up shares – 2 crore 96 lakh 03 thousand 378.

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Weekly U.S. Stock Market Reports Diverse Performance

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Reviewing the U.S. Stock Markets, the Nasdaq Composite, recorded a decent hike of 555 points, reaching a closing value of 17,688 points by the end of the week. Similarly, the S&P 500 index showed a positive trend, gaining 85 point to settle at 5,431 points. Meanwhile, DJIA Index experienced a notable drop, losing 209 points during the week and concluding at 38,589 points after a week of gaining.

In contrast, Russell 3000 Index saw a gain in week performance, with a slight hike of 40 points to reach 3,077 points by the end of the week.

Moving to Russell 2000 Index, demonstrated a notable drop of 20 point, ending the week at 2,006 points.

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Weekly European Stocks Shows Negative Result

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In the Outgoing week, the European stock market displayed a massive losing performance.

Here is the data on the weekly performance of the European Stock Market, The STOXX Europe 600 index, which is considered a leading benchmark for the European market and covers approximately 90 percent of the market capitalization across 17 countries, reported a drop of 12.5 points to close at 511.05.

The United Kingdom’s FTSE 100, one of the most widely followed indices in Europe, also showed a significant drop, losing 99 points or finishing the session at 8,146.

In Germany, the DAX 30 index, lost by 555 points to reach 18,002, while France’s CAC 498 decreased by 9 points to stop at 7,503 at the end of the trading day.

Italy’s FTSE MIB, which covers the top 40 stocks traded on the Milan Stock Exchange, decreased by 1,995 points to 32,665. However, Spain’s IBEX 35, added by 412 points, to close at 10,992.

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South Asian Stocks Reports Gaining Performance in Recent Week

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A review of South Asian stock markets shows that India’s Bombay Stock Exchange (BSE) index BSE Sensex has added 299 points during the week. At the end of the week, the index stood at 76,992 points. On the other hand, the Nifty-50 index of the country’s National Stock Exchange gained by 175 points last week. At the end of the week, the index stood at 23,465 points.

Pakistan Stock Exchange Index ‘KSE 100’, shed 2,926 points last week. After a week of losing, the index settled at 76,742 points.

On the other hand, The Sri Lankan stock market index adds, and the Colombo Stock Exchange index ‘ASPI’ increased by 208 points in a week. After a week the index settled at 12,314 points.

Bhutan’s stock market index ‘BSI’ added 68 points hence the index stood at 1,515 points throughout the whole week. Nepal’s ‘NEPSE’ gain 35 points, therefore the index stands at 2,112 points.

Hence Dhaka Stock Exchange: The benchmark index ‘DSEX’ dropped by 119.51 points or 2.28 percent, in the outgoing week. At the end of the week, the index stands at 5,117 points.

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