BSEC cancels the issuance of HR Textile’s right share

Business Desk :
The Bangladesh Securities and Exchange Commission (BSEC) rejected the right share offer of HR Textile Limited, according to the company’s filing on the Dhaka Stock Exchange (DSE).
Earlier, in 2022, the company had decided to increase paid-up capital by issuing rights shares at a 1:1 ratio for the expansion of production facilities and repayment of high-priced loans from banks and financial institutions.
It wanted to issue the right shares at Tk20 each including a premium of Tk10 with the face value.
HR Textile Mills was listed on the stock exchanges in 1997. The company exports knit fabrics and garments to Canada, as well as other countries in Asia, and the European Union countries.