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.
