Minori Bangladesh signed a share purchase agreement to acquire 7.61% of Fu-Wang Foods Limited (DSE:FUWANGFOOD) from Arif Ahmed Chowdhury, Afsana Tarannum and Lubaba Tabassumon for BDT 84.4 million on January 24, 2022. Under the agreement, above 8.44 million shares at BDT 10 each held by three directors Arif Ahmed Chowdhury, Afsana Tarannum and Lubaba Tabassumon will be transferred. The Bangladesh Securities and Exchange Commission (BSEC) approved the share purchase agreement subject to fulfillment of three conditions by the buyer. Minori Bangladesh will nominate one or more individuals as nominated or representative director against the 7.61% shares in the board of Fu-Wang Food to maintain uninterrupted holding of shares by directors. Minori Bangladesh will also inject fresh funds amounting to at least BDT 200 million as a share money deposit or loans to Fu-Wang Food for regularising all liabilities including bank liabilities and smooth operation and management of the company. Fu-Wang Food will obtain consent of the commission for raising capital against share money deposited or collected for the purpose of the compliance of 30% requirement of holding of shares by the board of directors.

Minori Bangladesh completed the acquisition of 7.61% of Fu-Wang Foods Limited (DSE:FUWANGFOOD) from Arif Ahmed Chowdhury, Afsana Tarannum and Lubaba Tabassumon on June 30, 2022.