After about nine months’ closure, Ring Shine Textiles Limited is all set to partly resume production.
According to reports, the company, in a disclosure on the Dhaka Stock Exchange (DSE) website, reportedly, underlined it would resume production at 25 per cent of its full capacity, effective 13 June.
It may be mentioned here that the Bangladesh Securities and Exchange Commission (BSEC) had restructured the company’s board in January this year — Ring Shine declared a lay-off last September — with an aim to change its non-performing status even as the stock market regulator also allowed the company to utilise its Taka 40 crore IPO funds, which was banned previously.
The decision of partial resumption of production has come as a big respite to shareholders of Ring Shine Textiles.
