Runner Auto to sign agreement with Bajaj Auto

The Board of Directors Runner Automobiles is going to sign an agreement with Bajaj Auto Limited or the authorized distributorship of KTM branded Motorcycles in Bangladesh.

The company will sign the agreement with Bajaj in the form of either completely built up (CBU) or semi knocked down (SKD) or completely knocked down (CKD) condition, or dealing in part level supply, and spares among the Bangladeshi customers.

This arrangement is expected to further strengthen Runner’s position in the high-end segment of the motorcycle market.

Bajaj Auto Ltd is the world’s third largest bike manufacturer and one of India's biggest automotive companies

Listed in May 2019, each share of the Runner Auto closed at Tk 48.40 on Wednesday at the Dhaka bourse.

Its shares traded between Tk 39 and Tk 99.90 in the last one year.

The company’s paid-up capital is Tk 1.13 billion, authorised capital is Tk 2.0 billion and the total number of securities is 113.53 million.

According to DSE data, sponsor-directors own 50.04 per cent stake in the company while institutional investors own 26.18 per cent, and general public 23.78 per cent as on June 30, 2020.