Business & Economy
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Berger signs with IDLC investment for issue management

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Business Desk :
Berger Paints BD Ltd has signed an Issue Management Agreement with IDLC Investments Ltd on 5th February for their proposed Rights Share Issuance plan.

The Berger intends to raise BDT 3.75 billion by issuing 2,728,111 ordinary shares at an issue price of BDT 1,376 per share.

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Proceeds from the Rights issuance will be utilized for establishment of its third factory at Bangabandhu Sheikh Mujib Shilpa Nagar. The project is expected to start its commercial operation from April 2026 and will cost approximately BDT 8.13 billion.

Rupali Haque Chowdhury, Managing Director of Berger Paints and Reza Uddin Ahmad, Managing Director of IDLC Investments signed the contract on their company’s behalf. M Jamal Uddin, Group Managing Director of IDLC Finance Limited; Sazzad Rahim Chowdhury, CFO of Berger; Md Mohsin Habib Chowdhury, Chief Operating Officer of Berger and other top officials from both the companies were present in the occasion.

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