Reckitt Benckiser, Unique Hotel take PLC suffix

The Dhaka Stock Exchange Limited (DSE) has approved the proposals that sought to change the name of Reckitt Benckiser (Bangladesh) Limited and Unique Hotel & Resorts Limited.

Accordingly, the name of Reckitt Benckiser (Bangladesh) Limited will be Reckitt Benckiser (Bangladesh) PLC. Similarly, Unique Hotel & Resorts Limited will be known as Unique Hotel & Resorts PLC.

The changes will come into effect on March 23, according to two separate posts on the DSE yesterday.

In Bangladesh, the companies are switching to the PLC (Public Limited Company) suffix in order to comply with the amended Company Act 1994. The amendment was made in 2020.

A PLC is a public company and is the equivalent of a US publicly traded company that carries the Inc. or corporation designation.

The use of the PLC abbreviation after the name of a company communicates to investors and to anyone dealing with the company that it is a publicly traded corporation.

Delta Brac Housing Finance Corporation, Crown Cement, Runner Automobiles, Premier Cement Mills, Taufika Foods and Lovello Ice-cream, Citizens Bank, United Commercial Bank, and Walton Hi-Tech Industries are among the listed firms that have added PLC to their names.