Esquire Knit Composite Limited, which is a part of the Esquire Group, plans to issue preference shares worth Taka100 crore, with a view to cut financial cost while also expand production capacity.
This is as per reports, which claimed the entity concerned will issue 10 crore preference shares at a face value of Taka 10 each even as it plans to purchase machinery for Taka 65 crore and repay the loan of Taka 35 crore.
However, Esquire’s plan to issue the preference shares is subject to the approval by the Bangladesh Securities and Exchange Commission (BSEC) as well as its shareholders, reports added further.
It may be mentioned here preference shares are temporary shares of a company that pay a fixed annual return, but investors do not have voting rights.
