Ibn Sina to invest Tk 10cr in subsidiary

Ibn Sina Pharmaceutical is going to invest Tk 10 crore in its subsidiary, Ibn Sina API Industry Ltd, as a part of its capital investment in order to purchase capital machinery, the company said yesterday.

The drug maker is going to purchase a total of 42.5 decimals of land in Chattogram and Barishal to set up sales depots.

The purchase price of the land will be Tk 5.58 crore, excluding registration fees and other additional expenses, according to the company.

Ibn Sina shared this information in two separate disclosures on the website of the Dhaka Stock Exchange (DSE).

Shares of Ibn Sina closed unchanged at Tk 286.6 on the DSE yesterday.