Walton, a manufacturer of electronic products in Bangladesh, has decided to open branches or liaison offices in India, Nepal, UAE and South Korea.
The local home appliance manufacturing giant made the disclosure on Monday on the Dhaka Stock Exchange website.
“The board of directors of Walton Hi-Tech Industries has taken the decision to open branches or liaison offices in India, Nepal, UAE and South Korea for market expansion and technology sourcing,” said the disclosure.
The company has also decided to apply for the enhancement of foreign currency limit to operate proposed foreign branches or liaison offices in six countries subject to approval of Bangladesh Bank, the disclosure added.
The board of Walton Hi-Tech Industries Ltd. has decided to invest $500,000 in Walton Corporation United States of America to purchase ordinary shares and preferential shares subject to approval of Bangladesh Bank and other relevant regulators.
The Walton Corporation United States of America will provide imports, exports and procurement services in North America.
Share prices of Walton rose by 2.97 per cent or Tk 37.1 to Tk 1,286 each at the DSE on Monday.
