MI Cement Factory Ltd changes its name to Crown Cement PLC
Stocks
The Dhaka Stock Exchange (DSE) has approved the change of name of MI Cement Factory Limited to Crown Cement PLC.
Much before the official move to change the company's name, MI Cement was popularly known as Crown Cement because of its popular cement brand 'Crown'.
Crown Cement is also exported to the North-East Indian market.
In line with the new name, the DSE has also changed the trading code or ticker name of the company to 'CROWNCEMNT' from 'MICEMENT'.
The changes will be effective from Wednesday, 23 February.
The company was listed with the capital market in 2011 and has been paying 10%-20% cash dividends in each of the last seven years.
Bangladeshi listed companies are changing the suffix of their names from Limited to PLC as required by the amended Companies Act.
MI Cement shares closed 1.1% higher at Tk61.8 each on Tuesday at the DSE, compared to the previous trading session.
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