Intraco Refueling plans to merge with 3 other CNG stations

Itraco Refueling has decided to merge its business with three other CNG stations.

The directors of the company have approved the amalgamation proposal with M HYE & Co CNG Refueling Station, Nessa & Sons Limited and Good CNG Re-Fueling Station Limited, according to Dhaka Stock Exchange (DSE) disclosure.

The amalgamation will be implemented subject to the creditors, shareholders, high court and the securities regulator's approval.

Intraco shares at the DSE jumped over 9% to Tk41.30 apiece in the early session on Monday (28 August).