Esquire Knit to invest Tk 4.77cr in subsidiary

Esquire Knit Composite Limited says it will invest Tk 4.77 in its L’ Esquire Limited, a subsidiary of the company.

“This investment will be financed on the basis of withdrawal of equivalent capital invested in two associate companies of the company, where Esquire Electronics Limited had Tk 3.75 Crore and Esquire Accessories Limited had Tk 1.02 crore,” said in a filing with the Dhaka Stock Exchange on Thursday.

It said this investment is part of a continued investment in a subsidiary company that will meet upcoming export opportunities and secure profit and dividend for the company.

The decision was made as Esquire Electronics Limited had Tk 3.75 Crore and Esquire Accessories Limited had not declared any dividend since Esquire Knit Composite Limited invested in the two associate companies.

On Thursday, Esquire Knit shares rose 0.86 per cent to Tk 34.20 on the DSE.