Beximco to sit on the board of Shipping Corporation

Bangladesh Export Import Company Ltd (Beximco) is going to sit on the board of Bangladesh Shipping Corporation as it has bought a significant number of shares of the state-run company.

Beximco said its board has decided to participate in the board of directors of Bangladesh Shipping Corporation as a member, according to a filing on the Dhaka Stock Exchange today.

It has become a board member of the state-run enterprise after acquiring 80,08,090 shares, which account for 5.25 per cent of the total holdings of Shipping Corporation.

According to securities rules, an investor, individual or firm, can sit on the board of a company if they hold at least 2 per cent of the outstanding shares of the listed company.