(Continuation news of QUEENSOUTH): The Company has also informed that IPO proceeds will be used by this year as only construction of Automatic Warehouse has remain balance which foundation works already been finished and LC has been opened for steel structure and others equipment's. The Board has decided to sale old machineries which cost of Tk. 25,40,91,698.15 and WDV was Tk. 4,64,99,747.71 while going to import new machineries for Tk. 79,42,11,000.00 to modernization. (end)