Economic Reporter :
Advanced Chemical Industries (ACI), a listed company with local bourses, has decided to set up a new subsidiary company named – ACI Biotech Limited, said an official disclosure on Tuesday.
“The primary objective of the subsidiary is to manufacture and market Biotech products in the country and abroad,” according to a Dhaka Stock Exchange (DSE) web post.
The initial capital of the proposed subsidiary company will be Tk 10 million having 80 per cent ownership in the ACI Limited, said the disclosure.
Setting up the subsidiary company is subject to approval from the regulatory authorities, said the disclosure.
The ACI was listed on the Dhaka bourse in 1976. The pharma sector company belongs to the “A” category.
