The board of directors of Renata Limited has approved the plan to establish a subsidiary company in Ireland fulfilling the regulatory requirement to export in EU countries.
Renata, a pharmaceutical and animal health products manufacturer, has also informed that earlier they committed to export in European countries and for that they established a company in UK which was disseminated on May 17, 2018 in the Dhaka Stock Exchange (DSE) website.
However, unfortunately UK had withdrawn them from the European Union (EU) as process known as Brexit, said a disclosure posted on the DSE website on Thursday.
Now they have decided to establish a new company in other EU countries (Ireland) to export un-interrupt in EU countries, said the disclosure.
Renata Limited, which was listed on the Dhaka bourse in 1979, disbursed 95 per cent cash and 15 per cent stock dividend for the year ended on June 30, 2018.
Each share of the drug maker closed at Tk 1,160.80 on Wednesday.
The company’s paid-up capital is Tk 805.36 million, authorised capital is Tk 1.0 billion and the total number of securities is 80.53 million.
Sponsor-directors own 51.16 per cent stake in the company while institutional investors 19.10 per cent, foreign investors 22.39 per cent and general public 7.35 per cent as on January 31, 2019.
In six months for July-December 2018, the company’s consolidated earnings per share (EPS) stood at Tk 21.08 as against Tk 17.46 for July-December 2017.
The consolidated NOCFPS was Tk 35.34 for July-December 2018 as against Tk 27.05 for July-December 2017.
The consolidated NAV per share was Tk 205.28 as on December 31, 2018 and Tk. 192.56 as on June 30, 2018.
Renata Limited (formerly Pfizer Limited) is one of the leading and fastest growing pharmaceutical and animal health product companies in Bangladesh.
The company started its operations in 1972 as Pfizer (Bangladesh). In 1993, Pfizer transferred the ownership of its Bangladesh operations to local shareholders and the name of the company was changed to Renata Limited.
Presently, there are three subsidiaries of Renata -- Renata Agro Industries, Purnava Limited and Renata Oncology Limited, according to its website information.
