Orion Infusion to issue right shares
AGM and EGM on 26 December. Record date 23 November
Publicly listed Orion Infusion Limited has decided to issue right shares to increase its paid-up capital, which is Tk20.36 crore at present.
In a stock exchange filing on Sunday, the company stated that a portion of the fund will be used to repay loans, and the remaining for Balancing, Modernisation, Rehabilitation, and Expansion (BMRE).
The right shares will be issued at a ratio of 2:1. In other words, one new share will be issued against two existing shares held by each investor. The issue price of the shares will be Tk20 each, including a premium of Tk10, the disclosure reads.
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Meanwhile, the company decided to pay a 10% cash dividend to its shareholders for the 2022-23 fiscal year.
For shareholders' approval of its issuance of right shares and dividend, the company will hold an extraordinary general meeting (EGM) and annual general meeting (AGM) on 26 December. The record date is 23 November.
After securing shareholders' approval, the company will seek consent from the securities regulator for the right share issuance.
In the last fiscal year, its earnings per share (EPS) stood at Tk2.06 and net asset value per share at Tk14.32.
Orion Infusion shares closed at Tk332.90 apiece on Sunday at the Dhaka Stock Exchange.
