BDBL to sell 10 lakh shares held in ICB

Bangladesh Development Bank Limited (BDBL), one of the corporate sponsor directors of the Investment Corporation of Bangladesh (ICB) has expressed its intention to sell 10 lakh shares out of its holding more than 20 crore shares in the financial institution.

The shares will be sold at prevailing market price through Dhaka Stock Exchange within the next 30 working days, said the bank in a filing with the DSE on Wednesday.

On January 6, the BDBL said it completed its sale of 1 lakh shares of the ICB.

On Wednesday, ICB’s share price rose 1.19 per cent to Tk 127.10 on the DSE.

Sponsors and directors have 69.80 per cent stake, government 27 per cent, institutions 1.78 per cent, and general investors 1.42 per cent in ICB, according to the DSE.

The ICB has three subsidiaries- ICB Capital Management, ICB Asset Management Company, and ICB Securities Trading Company.