ACI Motors is going to receive foreign investment worth Tk 83.99 crore for the expansion of its existing manufacturing facilities.
ACI Motors, a subsidiary of ACI, will get the investment from Commonwealth Development Corporation (CDC); Norwegian state-owned investment fund, Norfund, and FMO (a Dutch investment bank).
These three investors will purchase shares of ACI Motors in the name of Bangladesh Managed Account C.V. which is a limited partnership.
To facilitate the investment, ACI will issue 15.55 lakh convertible non-cumulative preference shares worth of Tk 100 each at a premium of Tk 440 per share.
According to the official disclosure posted on the Dhaka Stock Exchange website on Monday, the proceeds of the investment will be used for business growth as well as for expansion of existing manufacturing facilities of ACI Motors.
As per disclosure, the new investment will dilute ACI's shareholding in the ACI Motors from 52.70 per cent to 46.80 per cent.
Launched in 2007, ACI Motors is the distributor of YAMAHA motorcycles in Bangladesh since 2016.
Its mother company ACI Limited was listed with the Dhaka bourse in 1976. The A category company is listed in Pharmaceuticals & Chemicals sector.
Shares of ACI closed at Tk 269.10 at the prime bourse of Dhaka Stock Exchange which was Tk 262.5 on the previous trading day.
