Intraco Refueling Station Limited plans to merge three subsidiaries – M Hye & Co CNG Refueling Station Ltd, Nessa & Sons Ltd, and Good CNG Re-Fueling Station Ltd – with its main entity. The merger proposal, aimed at streamlining operations, has been approved by Intraco’s board. The surviving company will be Intraco Refueling Station. However, the proposal requires consent from Intraco’s shareholders, and approval from regulatory bodies including the Bangladesh Securities and Exchange Commission, creditor banks, subsidiary general meetings, and the High Court. The move impacts refueling stations in Habiganj, Dhaka, and Pabna. Intraco, established in 2007, currently operates eight refueling stations. The announcement led to a 9.84 percent surge in Intraco’s stock on the Dhaka Stock Exchange.
Intraco Subsidiaries Merge with Parent Entity
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