Listed conglomerate Advanced Chemical Industries (ACI) PLC has approved the formation of a new subsidiary, while Berger Paints Bangladesh Limited has decided to increase investment in its wholly owned subsidiary, according to separate disclosures filed with the Dhaka Stock Exchange (DSE) on Wednesday.

ACI said its board of directors, at a meeting held on July 28, approved the establishment of ACI Global Scientific Standards Limited. The company will hold an 85% stake in the new subsidiary, subject to approval from the relevant regulatory authorities.

The new subsidiary will have an authorized capital of Tk 500 million and a paid-up capital of Tk 30 million, the company said.

Meanwhile, Berger Paints Bangladesh announced that its board, at a meeting held on July 28, approved an additional investment of Tk 200 million in its wholly owned subsidiary, Jenson & Nicholson (Bangladesh) Limited.

The fresh investment will be made through the issuance of ordinary shares. Jenson & Nicholson (Bangladesh) manufactures metal cans used in the paint, food, and other industries.