The Bangladesh Building Systems Ltd, a corporate director of BBS Cables Ltd, has completed the sales of 25 lakh shares of BBS Cables at the prevailing market price, said the Dhaka Stock Exchange (DSE).
The corporate director, which itself is a listed company founded by the same entrepreneurs, used to hold 3.09 crore BBS Cables shares prior to the sales in the block market of the DSE.
Block market is the securities transaction platform of a bourse where buyer and seller meet each other with a prior agreement regarding the price and also the number of securities to be bought and sold between.
In contrast, the regular trading platform is a public market where buyer-sellers do not know each other and the price is determined based on the market demand and supply.
BBS Cables announced to give 10% cash and 5% stock dividends for the 2020-21 fiscal year.
Its shares closed 1.1% lower at Tk56.1 each on Tuesday in the DSE.