Associated Builders to sell another 53 lakh Mutual Trust Bank shares
Associated Builders Corporation Limited – a sponsor of Mutual Trust Bank – wants to sell another 53.17 lakh shares of the private sector lender.
Earlier, in August, the company – one of the top construction firms in the country – sold 24.37 lakh shares from its total holding of 1.88 crore shares of the bank.
Rashed Ahmed Chowdhury, a nominated director of the bank, bought the shares.
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Currently, the construction company owns more than 1.63 crore shares of the bank.
From its existing holding, the company will now sell another 53,17,500 shares of the bank, according to a stock exchange filing on Monday.
Associated Builders said it will sell the shares at the prevailing market price in the block market through the Dhaka Stock Exchange within 31 October.
Established in 1972, the private limited company is involved in the construction of industrial projects, bridges, jetties, harbours, roads and all types of buildings.
Mutual Trust Bank got listed on the capital market in 2003. Its shares closed at Tk16.60 each on Monday.
In the first half of 2022, its net profit after tax increased to Tk133.66 crore, from Tk85.82 crore in the same period of the previous year.
In 2021, the bank registered a profit of Tk297.32 crore and paid a 10% stock dividend to its shareholders.
