Four sponsor-directors of four publicly-listed companies – Mercantile Bank Ltd, Bank Asia Ltd, Shahjalal Islami Bank Ltd, and Central Insurance Company Ltd – have expressed their intentions to trade shares of the companies.
The shares of Mercantile Bank, Central Insurance and Shahjalal Islami Bank will be traded on the public market while those of Bank Asia will be traded on the block market, stated the disclosures of the companies on the Dhaka Stock Exchange (DSE) website on Monday.
The shares are due to be traded at the prevailing market price on the DSE by 29 October this year, the disclosures added.
Rumee A Hossain, a sponsor director of Bank Asia will buy its 18 lakh shares, while AKM Shaheed Reza, a sponsor director of Mercantile Bank, Hosneara Aziz, a sponsor of Central Insurance and Tahera Faruque, a director of Shahjalal Islami Bank will sell 15 lakh, 2.75 lakh and 10 lakh shares, respectively.
Rumee A Hossain is also the managing director of Rangs Industries Ltd and AKM Shaheed Reza is the chairman of garments and textiles company, Reza Group.
Among the sponsors and directors, Hosneara Aziz will sell her entire holdings in Central Insurance.
Earlier on 4 October, 2020, Farhana Haq, another sponsor director of Bank Asia expressed her intention to buy 18 lakh of its shares at the prevailing market price through the DSE by 29 October this year.
She also holds the directorship of DHS Motors Ltd, Platform Solutions Ltd, Ali Estates Ltd, SurjaSoft Ltd, and FAR Ltd.
The closing prices of each share of Bank Asia, Mercantile Bank, Central Insurance, and Shahjalal Islami Bank on Monday were Tk18.9, Tk12.8, Tk47.7, and Tk21.6 respectively at the DSE.