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Paper Processing and Packaging Limited has decided to increase its authorised capital to Tk 60 crore from the existing Tk 25 crore.
The paper printing and packaging company now holds a paid-up capital of Tk 10.45 crore.
It will hold an extraordinary general meeting (EGM) on April 2 for the shareholders’ approval of the decision. The EGM’s record date was fixed as March 10, according to a regulatory filing posted on the DSE website on Thursday.
Upon receiving the shareholders’ approval, the company will initiate formal procedure with the regulator regarding the up-gradation.
Paper Processing disbursed 10 per cent cash dividend for the year ended on June 30, 2021. Later, it was shifted from the ‘Z’ category to ‘A’ with effect from February 7.
The company reported a net profit of Tk 1.4 crore in the fiscal year 2020-21, down by 41 per cent from Tk 2.38 crore of FY20.
It prints a wide range of products, including all kinds of books, stationery, and offset printing, dairy, calendar, magazine and annual reports.
It started its journey in 1989 and got listed with the bourses in 1990.
Paper Processing’s share price declined 1.01 per cent to Tk 304.30 on Thursday on the DSE.
