Power, gas line cuts put Apex Weaving out of production
The commercial operation of Apex Weaving and Finishing Mills Ltd has remained closed, as the authorities concerned severed the company's electricity and gas connections on 22 May and 23 May 2022 respectively after it had failed to pay the arrear bills timely.
According to the Dhaka Stock Exchange, the company is trying to arrange the payment and get the utility connections restored.
Its share prices jumped 78% to Tk24.2 each from Tk13.60 within seven working days.
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But the company informed that there is no undisclosed price sensitive information for the recent unusual price hikes.
Established in 1993, Apex Weaving and Finishing Mills Ltd went into commercial production in 1996.
It is a fully integrated textile mill dedicated to producing quality home furnishing for exports.
The company was listed on the stock exchange's SME platform in 2021.
The current paid-up capital of the company was Tk38.85 crore.
The last trading share price on the Dhaka Stock Exchange was Tk24.20 per share on Thursday.
As of 31 December 2021, sponsors and directors jointly held 30.12%, institutions 17.31%, foreign investors 0.01%, and general investors 52.56% of the company shares.
