Padma Oil, Energypac Power ink deal for building autogas station

Sunbd Desk || Published: 2020-09-02 14:12:52 || Updated: 2020-09-02 14:12:52

As per the agreement, Energypac Power Generation will be supplying LPG autogas and will construct autogas stations at filling stations registered with Padma Oil Company Ltd

The state-run Padma Oil Company has signed an agreement with Energypac Power Generation Limited for the expansion of business.

As per the agreement, Energypac Power Generation will be supplying LPG autogas and will construct autogas stations at filling stations registered with Padma Oil Company Ltd, said a press release issued on Wednesday.

Padma Oil will receive royalty of Tk0.50 against per litre sale of LPG.

Each share of the Padma Oil Company, which was listed on the Dhaka bourse in 1976, closed at Tk219.70 on Tuesday.

In 2019, the company disbursed 130% cash dividend.

The company’s paid-up capital is Tk98.23 crore and authorized capital is Tk100 crore while the total number of securities is 98.23 million.

The sponsor-directors own 2.06% stake of the company, while the government owns 50.35%, institutional investors own 29.66%, foreign investors 1.18% and the general public 16.75% as on July 31, 2020, the DSE data shows.

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