Confidence Cement to sell associate stake

The board of Confidence Cement PLC has decided to divest its entire shareholding in associate Confidence Cement Dhaka Limited to Confidence Power Holdings Ltd (CPHL) in a deal worth Tk 140.97 crore.

The decision was taken at a meeting of the company's board on August 4 to align with its strategic objectives and meet immediate financial obligations, according to a disclosure on the Dhaka Stock Exchange (DSE) website yesterday.

The cement producer said the transaction will be executed based on terms and conditions set out in a share purchase agreement between Confidence Cement and CPHL, subject to compliance with prevailing laws and regulatory requirements.

Confidence Cement posted a profit of Tk 24.84 crore in the January-March quarter, with consolidated earnings per share (EPS) declining to Tk 2.88 for the period, down from Tk 3 (restated) in the same quarter a year ago, according to its financial statements.

As of June 30, 2025, sponsors and directors held 30.34 percent of the cement maker's shares, institutional investors 37.34 percent, and the general public 32.32 percent, as per DSE data.