Esquire Knit Composite to invest Tk 5 crore in subsidiary

Esquire Knit Composite PLC's board has approved an investment of Tk 5 crore in its subsidiary L'Esquire Ltd.

The decision was taken during a meeting on March 20, according to a filing on the Dhaka Stock Exchange. 

The initiative is part of the company's ongoing investment strategy to tap export potential and secure profits and dividends. 

The investment will be funded by withdrawing the same amount from the company's investment in Esquire ICL Apparel Fund, where it had initially invested Tk 10 crore.

Shares of Esquire Knit Composite went up 1.27 percent to Tk 23.9 today.