Vicar International plans to divest 1.8cr shares of SBAC Bank
The shares are valued at Tk12.60 crore based on the prevailing market price of Tk7 apiece.
Highlights:
- Vicar to sell Tk1.8cr shares
- Value of Shares: Tk12.60cr
- Currently, it held 3.48cr shares
- It will sell 2.18% stake in bank
- SBAC Bank made Tk13.85cr profit in H1
Vicar International, a corporate director of South Bangla Agricultural and Commerce (SBAC) Bank, has announced plans to sell 1.8 crore shares of the bank, nearly half of its total holding.
According to Dhaka Stock Exchange (DSE) data, the shares are valued at Tk12.60 crore based on the prevailing market price of Tk7 apiece.
Keep updated, follow The Business Standard's Google news channel
In a disclosure filed yesterday, the bank said Vicar International currently holds 3.48 crore shares and has expressed its intention to sell 1.8 crore of them at the prevailing market price. The shares are to be executed in the block market of the DSE within the next 30 working days.
As per data of the DSE, Vicar International sat on the board of the SBAC Bank after buying a 4.22% stake of the bank.
Now, it will halve its current holding by 2.18% in the bank. The proposed sale accounts for approximately 51.7% of Vicar International's total holdings in the private commercial bank.
Mohammad Nazmul Huq, representing Vicar International, is serving as a director on the board of SBAC Bank.
Vicar International is a private Bangladeshi company that specialises in supplying, installing and servicing high-voltage and low-voltage electrical equipment.
It supplies services to all major local power utilities of Bangladesh, mainly Bangladesh Rural Electrification Board, Dhaka Electric Supply Company, Bangladesh Power Development Board, Rural Power Company, Dhaka Power Distribution Company, etc.
Prior to this divestment notice, Vicar International had rapidly built its position in SBAC Bank two years ago.
In September 2024, the institution disclosed plans to acquire a total of 3.48 crore shares (around a 4.22% stake) through the block market across separate transactions.
That buying spree occurred as several early sponsors and directors, including Thermax Textile Mills, sought to liquidate their holdings and exit the bank.
In the first half of 2026, SBAC Bank earned a profit of Tk13.85 crore with an earnings per share of Tk0.17; at the same time of the previous year, its profit was Tk11.72 crore. In 2025, it had made a profit of Tk70 lakh and did not pay any dividend for its shareholders.
