Keya Detergent and Keya Soap, sister concerns of Khaleque Group of Industries, will be merged with its another sister concern Keya Cosmetics Ltd.
The decision was taken at the board meetings of the three different companies of Khaleque Group.
When contacted, Nurul Islam, company secretary of Khaleque Group told the FE that the aim of the merger of these companies was to increase profit of the group.
The amalgamation will also help Khaleque Group to slash operational cost, he added.
According to the information published in Dhaka Stock Exchange (DSE) website, the Keya Cosmetics board has recommended exchange of 1.16694 ordinary shares of Keya Detergent Limited and 1.77749 ordinary shares of Keya Soap Chemicals Limited for one ordinary share of Keya Cosmetics Limited, subject to approval of shareholders in the ensuing annual general meetings (AGMs) of Keya Cosmetics Limited, and Keya Detergent Limited and Keya Soap Chemicals Limited.
As per valuation, each ordinary share of the Keya Cosmetics Limited is Tk 40.174, Keya Detergent Ltd. Tk 34.432, Keya Soap Chemicals Ltd. Tk 22.602 against their face value of Tk 10 each.
Currently Keya Cosmetics and Keya Detergent are listed companies in the capital market.
According to 2010 balance sheet, Keya Cosmetics’ Earning Per Share (EPS) is Tk 5.26 and Net Asset Value (NAV) of per share Tk 22.87.
Keya Detergent EPS stood at Tk 3.11 and NAV per share of Tk 21.48 in 2010.
