Ibn Sina to transfer net assets of Tk 208 million to his subsidiary

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Ibn Sina Pharmaceuticals, a listed company, will transfer net assets of more than 208.16 million taka from its natural medicine division to its subsidiary, The Ibn Sina Natural Medicine.

The company’s board of directors has made the decision on the net asset transfer, subject to shareholder approval and compliance with regulatory requirements, the company said in a filing with the Dhaka Stock Exchange ( EHR).

The transfer of net assets will facilitate better management and ease of operation of its natural medicine production and business, according to the filing posted on DSE’s website on Tuesday.

The company will submit a special resolution to the company’s annual general meeting to be held on October 30 for shareholder approval.

Ibn Sina Natural Medicine is a 99.99% subsidiary of The Ibn Sina Pharmaceutical Industry.

Meanwhile, The Ibn Sina Pharmaceutical Industry’s Board of Directors has recommended a 60% cash dividend for the year ending June 30, 2022.

The company also reported consolidated EPS of Tk 19.39, consolidated net asset value per share of Tk 83.36 and consolidated NOCFPS of Tk 13.40 for the year ended June 30, 2022 compared to Tk 15.66, 68 .69 Tk and 17.67 Tk respectively for the same period of the previous financial year. year.

Ibn Sina Pharmaceutical Industry, currently an “A” class company, was listed on the stock exchange in 1989.

The company’s managing sponsors hold 44.67% of the shares, institutes 24.85% and general shareholders 30.48% as of July 31, 2022. The company’s share price closed at Tk 310 each on Tuesday with an increase of 2.51% or 7.60 Tk on the DSE.

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