Monospool Paper to amalgamate with Pearl Paper
The Board of Directors of Transferee company Monospool Paper Manufacturing has decided to merge their operations with the Transferor company Peral Paper & Board Mills Limited, which is now subject to the approval of the high court and other regulatory authorities.
In a disclosure on the Dhaka Stock Exchange (DSE) website on Sunday, the company said, both entities will survive under Bangladesh Monospool Paper Manufacturing Company after the amalgamation.
Pearl Paper and Board Mills Ltd (PPBM), a unit of BDG-Magura Group, manufactures quality offset paper and white writing paper.
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The factory of PPBM, established at Sreerampur, Dhamrai, is capable to produce 40,000 MT of writing/printing paper, offset paper, Art paper/Card, and converted offset paper per annum.
Monospool Paper, owned by Magura Group, got listed on the stock exchanges back in 1989.
Due to weak fundamentals, it was sent to the OTC in 2009. Later on 13 June 2021, it returned to the main board from the over-the-counter (OTC) platform and was re-listed.
The company has a paid-up capital of Tk9.38 crore. Of its total shares, general investors hold 45.64%, sponsors, and directors 45%, and institutional investors 9.36%.
Magura Group owns another listed paper company named Paper Processing and Packaging, which also returned to the mainboard from the OTC on the same day as Monospool Paper.
