Keya plans merger of 3 units
Keya Group, as part of a new business plan, is going to amalgamate its three units soon.
Keya Detergent Limited, a listed company, and non-listed Keya Soap Chemicals Limited will be amalgamated with Keya Cosmetics Limited, also listed on the stockmarket.
The boards of directors of the three in their separate meetings have approved a draft scheme of such merger, Keya said in a posting on the Dhaka Stock Exchange website yesterday.
Each Keya Cosmetics share will be offered for every 1.66 Keya Detergent share and for every 1.77 Keya Soap stock.
As per a valuation for exchange rate, each ordinary share of Keya Cosmetics is valuated at Tk 40.174, Keya Detergent at Tk 34.43 and Keya Soap at Tk 22.60 against their face value of Tk 10 each.
The amalgamation is subject to approval of shareholders, and subsequent sanction of the High Court.
Keya Cosmetics listed on the stockmarket in 2001 and Keya Detergent in 2003.
On the Dhaka Stock Exchange yesterday, each Keya Cosmetics share traded between Tk 130.20 and Tk 145, while each Keya Detergent traded between Tk 103 and
Earlier in 2006, Beximco Group merged its four textile units into one, and in 2008 two another units of the group merged with Beximco. Tripti Industries also amalgamated with Olympic Industries.