After remaining closed for a long time, Dhaka Fisheries Ltd has prepared a plan to resume operation with a new project from January 2023.
Recently, the Bangladesh Securities and Exchange Commission (BSEC) has decided to shift the company – which has been trading in the over-the-counter (OTC) market of the stock exchanges since 2009 – to the small capital platform on some conditions.
The company was listed on the stock market in 1996. Due to weak financial conditions and non-operation, the company was sent to the OTC market.
According to DSE data, the price of the company's shares was Tk120 each.
In a board meeting on Tuesday, the company decided to operate the new fisheries project on a 4,445 decimal area in Sherpur, said Sources at Dhaka Fisheries Ltd.
The company has signed a five-year lease agreement – effective from July this year – with the owner of the property for five years, which may be extended further, said sources.
It will invest Tk2 crore as project development cost and working capital to make the fishery project functional.
Estimated annual turnover of the project will be Tk1.5 crore with an estimated net profit of Tk30 lakh.