Advanced Chemical Industries (ACI) PLC has decided to invest Tk700 crore in its subsidiary, ACI Logistics Limited, which operates under the retail brand Shwapno.
The investment decision was approved at a meeting held today (14 July), according to company sources.
As part of the investment, ACI will subscribe to 70 lakh convertible preference shares of ACI Logistics, each with a face value of Tk1,000. The investment is expected to be completed by 15 October of the current year.
The move is expected to strengthen ACI Logistics' capital base and support the continued expansion of its retail operations under the Shwapno brand, according to the company's statement.
ACI / Swapno / invest
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