13
Jul
15:57
SS Steel seeks board approval for Al-Falah acquisition
Bangladesh-based SS Steel has called for an extraordinary general meeting (EGM) to seek approval for its acquisition of Al-Falah Steel and Re-Rolling Mills and utilisation of IPO proceeds, Kallanish notes.
“The Board of Directors has decided to hold the EGM due to proposed revision of utilisation plan of unutilised IPO proceeds; to pay outstanding time loan/short term loan and equity investment in Al-Falah Steel and Re-Rolling Mills Limited,” SS Steel …
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