Berger to got US$60 million as offshore loan to expand business

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Berger to got US$60 million as offshore loan to expand business

Bangladesh Investment Development Authority (BIDA) has approved Berger Paints Bangladesh Limited’s proposal to take a loan of 60 million dollars. This information is known from Dhaka Stock Exchange (DSE) sources.
According to the information received, Berger Paints has entered into a loan agreement with J&N Investments (Asia) Limited to provide necessary capital for business operations. Basically, J&N Investments is the main company or parent company of Berger. And Berger Paints got approval to take a loan of 60 million dollars from that company.
Meanwhile, the board of Berger Paints has recommended a cash dividend of 400 percent to shareholders for the financial year ending March 31, 2023. The company has convened the annual general meeting (AGM) through virtual medium on August 22 at 10 am to seek approval of the declared dividend.
The record date in this regard has been fixed on June 26. Earnings per share (EPS) of the company in the current financial year has been Rs 64 91 paisa, which was Rs 62 68 paisa in the previous financial year. The company’s consolidated net asset value per share (NAVPS) stood at Tk 279 78 paise at the end of March 31, compared to Tk 227 39 paise at the end of the previous financial year. Besides, the cash flow per share of the company was 74 taka 30 paisa in the financial year under discussion.
The company was listed in the capital market in 2006 and is currently in the ‘A’ category. Against the authorized capital of Tk 100 crore, the paid up capital is Tk 46 crore 37 lakh 80 thousand. The miscellaneous sector company has a reserve of Tk 1,860,000,000. The company has a total of 4 crore 63 lakh 77 thousand 880 shares. Of the total shares, 95 per cent are held by entrepreneurs and managers, 3.67 per cent by institutional investors, 0.20 per cent by foreign investors and 1.13 per cent by ordinary investors.
Meanwhile, the share price of the company increased by 0.94 percent or 16 taka 80 paisa on DSE yesterday and traded at 1 thousand 795 taka each, the closing price of which was 1 thousand 791 taka 50 paisa. A total of 6,525 shares of the company were traded 203 times throughout the day.
The market price of which is 1 crore 16 lakh 90 thousand taka. Throughout the day, the share price fluctuated between Tk 1,772 and Tk 1,849. And within the last one year, the company’s shares fluctuated from a low of 1,675 taka 10 paisa to a maximum of 1,849 taka.

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