One of the major Bangladeshi pharmaceutical companies, Renata has received permission from the Bangladesh Bank to remit $7 million to the UK and Ireland.
The company looks to expand its footprint in the European market.
In a filing with Dhaka Stock Exchange on Monday, the company said that Bangladesh Bank permitted it to remit $2 million from its Exporters’ Retention Quota (ERQ) account to Renata Pharmaceuticals (Ireland) Ltd and $5 million to Renata (UK) Ltd as paid-up capital.
Meanwhile, Renata’s stocks rose 0.28% to Tk1,360.4 on Monday. At the end of Tuesday’s trade, it witnessed another 0.09% rise and stood at Tk1,361.6.
Earlier, Renata announced a 145% cash dividend and 10% stock dividend for the financial year ended on June 30, 2021.