Mostafa Steel Galvanizing Plant, a corporate sponsor of Bank Asia, will transfer its more than 8.80 lakh shares from the private sector lender to the Commercial Bank of Ceylon, a foreign financial institution.
On Wednesday, the company received the consent of transfer from the Dhaka Stock Exchange (DSE).
At the last trading price of Tk17.70 per share on Wednesday, the value of the shares to be transferred is Tk1.55 crore.
The transfer will be outside the trading system of the stock exchange and the process will be completed within the next 30 working days.
According to the rules of 47(2) of listing regulations, in case of transfer of securities outside the trading system of the exchange, the transferor shall make an application as prescribed to the exchange along with required documents.
Bank Asia was listed on the stock exchanges in 2004.
In 2020, the private sector lender reported a profit of Tk202.44 crore and its consolidated earnings per share stood at Tk1.74.
The company recommended a 10% cash dividend for its shareholders.