The proposal was sent to Salehuddin Ahmed, finance and trade adviser by Dubai-based financial institution Adsum Capital Management LLC on behalf of a consortium of foreign investors.
A consortium of foreign investors has sent proposals to the government expressing interest in buying four profitable companies of the Beximco Group, which include Beximco Pharma and Beximco Ltd.
On behalf of the consortium, Dubai-based financial institution Adsum Capital Management LLC sent the proposal to Finance and Trade Advisor Salehuddin Ahmed. However, Adsum did not provide any details about the investors.
Finance Ministry officials said Adsam’s letter reached Finance Advisor Salehuddin Ahmed on October 14. He sent the letter to the commerce secretary with instructions to ‘scrutinize the proposal’.
“A consortium of investors has given us permission to submit letters of interest to acquire shares of some of the Beximco Group companies,” said the letter signed by Anwar Ali Khan, CEO and Managing Director of Adsum Capital Management LLC.
The letter further states, “The specified companies are: Beximco Pharmaceuticals Limited, Teesta Solar Limited, Beximco Communications Limited (Satellite & DTH License) and Beximco Limited (Textiles & Readymade Garments Division).”
Beximco Pharma and Beximco Limited are listed on the Dhaka Stock Exchange. Beximco Pharma is also listed on the London Stock Exchange.
Ahmed Shayan Fazlur Rahman, vice chairman of Beximco Group and son of Salman F Rahman, told The Business Standard, “We have not received any such proposal in Beximco Group.”
