Business Desk : dhakamirror.com
ACI Ltd, one of the leading business houses in Bangladesh, has decided to enter the aviation business and invest Tk 10 crore in a digital bank, said the company.
The company, in a board meeting on July 26, decided to form a subsidiary named ACI Avionics and Airlines Services Ltd with a Tk 50 crore authorised capital and a Tk 1 crore paid-up capital.
ACI will have a 77 per cent stake in the subsidiary.
Mohammad Mostafizur Rahman, company secretary of ACI Ltd, said ACI initially plans to launch helicopter services that are currently offered by a number of companies.
“We will gradually go for passenger services.”
He said the plan is still at an initial stage. “We will shortly form the company. Later, we will have the conclusive planning.”
A top official of ACI said their primary plan is to provide ground service equipment and related services at the airport.
“We want to enter into the business as Bangladesh’s aviation market is growing.”
With operations in diversified areas ranging from agribusiness, chain retailing, consumer goods and pharmaceuticals, ACI said it plans to take a 5 per share in a digital bank named Kori Digital PLC by investing Tk 10 crore subject to the approval of authorities.
ACI is the latest company that has disclosed plans to invest in digital banks after two listed companies — Bank Asia and Crystal Insurance — shared a similar plan.
Shares of ACI closed changed at Tk 260.20 on the Dhaka Stock Exchange.
The Bangladesh Bank last month invited applications from entrepreneurs interested in establishing digital banks. The BB will accept applications until August 1 this year.
Investors willing to set up a digital bank must have a minimum paid-up capital of Tk 125 crore and the capital will have to come from the sponsors.
