BSEC Approved of merger to BSRM Limited

The capital market regulator Bangladesh Securities and Exchange Commission (BSEC) has approved the merger of unlisted BSRM Steel Mills with listed Bangladesh Steel Re-Rolling Mills Limited (BSRM Limited). The approval was given at the 776th regular meeting of the commission on Monday.

This information has been given in a press release signed by BSEC Executive Director and Spokesperson Mohammad Rezaul Karim.

Through this merger, the paid up capital of BSRM Limited will increase from Tk 236.07 crore to Tk 298.58 crore. In this case, BSRM Limited will issue 6 crore 25 lakh shares to the shareholders of BSRM Steel Mills against 39 crore 44 lakh shares worth Tk 10.

Sunbd/NJ