UCB to exit National Housing by offloading entire stake
Following the announcement, National Housing shares rose by 0.37% to close at Tk26.80.
United Commercial Bank (UCB) has announced plans to fully exit its ownership in National Housing Finance PLC by selling off its entire shareholding in the company.
According to a price-sensitive disclosure filed with the Dhaka Stock Exchange (DSE) today (24 July), UCB, also a sponsor of National Housing, will sell 56.35 lakh shares of National Housing within the next 30 working days. The sale will take place either through the secondary market or block transactions on the DSE.
Following the announcement, National Housing shares rose by 0.37% to close at Tk26.80.
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National Housing was incorporated in 1998 and got listed on the stock exchanges in 2009.
For the last financial year, the company recommended a 10% cash dividend despite a sharp 97% decline in profits, which dropped to Tk29 lakh.
As per the June shareholding report, sponsors and directors jointly hold 50.57% of the company's shares. The government owns 9.34%, institutional investors 11.86%, and general investors hold the remaining 28.23%.
