ACI Motors to receive Tk 84 crore foreign investment
ACI Motors, a subsidiary of ACI, is going to receive Tk 83.99 crore in foreign investment, which the company will use for the expansion of its business.
FMO (a Dutch investment bank), CDC (Commonwealth Development Corporation) and Norfund are the investors.
The three will buy the shares of ACI Motors in the name of Bangladesh Managed Account CV, which is a limited partnership.
The company will issue 15.55 lakh convertible non-cumulative preference shares worth of Tk 100 each at a premium of Tk 440 per share.
"The proceeds of the investment will be used for business growth as well as for expansion of existing manufacturing facilities of ACI Motors," the company said in a disclosure today published on the Dhaka Stock Exchange website.
The new investment will dilute ACI's shareholding in the ACI Motors from 52.70 per cent to 46.80 per cent, the company added.
Stocks of ACI closed 2.51 per cent higher at Tk 269 at the premier bourse today.