DHAKA: The management of BD Welding, a listed company of the capital market, Monday decided to upload right share and increase its authorized capital.

The authorities of the company announced the executive body’s decision on the website of Dhaka Stock Exchange.

Sources said the decision of the executive body would formally be approved in the Extra-ordinary General Meeting of the company on August 5.

Following the approval of EGM, the company will apply for final approval from the Security and Exchange Commission (SEC).

According to the executive body’s decision, the company will provide two right shares against the one general share. The face value of the share would be Tk 10.

The authorized capital will stand at Tk 50 crore from Tk 15 crore. The company has fixed July 14 for record date ahead the EGM.

Besides, there was no value limit for trading of the company as per corporate announcement on Monday.

BDST: 1806 HRS. JULY 5, 2010