Berger Paints BD Ltd has signed an Issue Management Agreement with IDLC Investments Ltd on Monday for their proposed rights share issuance plan.
Berger intends to raise Tk375 crore by issuing 2,728,111ordinary shares at an issue price of Tk1,376 per share.
Proceeds from the rights issuance will be utilized for establishment of its third factory at Bangabandhu Sheikh Mujib Shilpa Nagar.
The project is expected to start its commercial operation from April 2026 and will cost approximately Tk813 crore.
Rupali Haque Chowdhury, managing director of Berger Paints, and Reza Uddin Ahmad, managing director of IDLC Investments, signed the contract on their company’s behalf.
M Jamal Uddin, group managing director & CEO of IDLC Finance Limited; Sazzad Rahim Chowdhury, CFO & director of Berger; Md Mohsin Habib Chowdhury, COO of Berger and other top officials from both the companies were present in the occasion.
