National Polymer Industries to set up subsidiary
National Polymer Industries Ltd has decided to establish a subsidiary company that would be engaged in imports, exports and trading.
The board of directors of the plastic manufacturer has decided to establish Npoly Trading Ltd, according to a filing on the Dhaka Stock Exchange.
The authorised capital of the subsidiary company will be Tk 10 crore and the paid-up capital will be Tk 10 lakh.
The maximum value of shares that a company can issue to its shareholders is authorised capital, while the total value of the shares issued to the public is called paid-up capital.
The percentage of holding of the company will be 99 per cent of the subsidiary and the source of funds will be from the normal course of business, said the filing.
National Polymer Industries makes unplasticised polyvinyl chloride (uPVC), polypropylene-random polymer (PP-R), chlorinated polyvinyl chloride (CPVC) pipes and fittings, PVC doors, sheet, ceiling, and plastic household and furniture products.
Shares of the company were down 0.20 per cent on the DSE yesterday.