Hakkani Pulp & Paper Mills Ltd has decided to increase its paid-up capital by Tk 16 crore to improve the flow of working capital and ensure an uninterrupted and smooth operation of the company.
In a meeting on Monday, the board of directors decided to raise the paid-up capital through the issuance of seven crore ordinary shares of Tk 10 each among existing sponsors and directors and another nine crore shares among other shareholders, according to a filing on the Dhaka Stock Exchange.
The plan is subject to the approval of general shareholders in the extraordinary general meeting and the Bangladesh Securities and Exchange Commission.
Currently, the size of the paid-up capital of Hakkani Pulp is Tk 19 crore.
Paid-up capital is money that a company receives from selling stock directly to investors.
Shares of Hakkani Pulp closed 0.95 percent higher at Tk 64 on the DSE today.
Hakkani Pulp & Paper Mills Ltd paidup capital