Berger Bangladesh to raise Tk 375 crore through rights shares to build factory

Berger Paints Bangladesh Ltd, one of the largest paint and coating producers in Bangladesh, plans to raise Tk 375 crore through rights shares to finance the construction of a third factory at Bangabandhu Sheikh Mujib Shilpa Nagar.

The company intends to raise the amount by issuing 2,728,111 ordinary shares, including 2,591,691 shares to be offered to J&N Investments (Asia) that holds 95 percent of the company, Berger said in a filing to the Dhaka Stock Exchange today. 

Investors will get a share of Berger for holding each share.

Each share will be priced at Tk 1,376, including a premium of Tk 1,366, which will be subject to the approval of the shareholders in the extraordinary general meeting scheduled for March 10 and the regulator. 

Berger's shares rose to Tk 1,995, an increase of 1.47 percent as of 12:16 pm. 

The estimated cost of Berger's third factory at Bangabandhu Sheikh Mujib Shilpa Nagar is Tk 813 crore. The plant is expected to start production in April 2026.