26 state companies may offload shares in Sept
The government has assigned the Investment Corporation of Bangladesh (ICB) as a capital issue manager of all state enterprises to offload shares in the stockmarket, an official of the finance ministry said yesterday.
The ministry asked ICB, the state-run investment firm, to communicate with 26 state enterprises to offload shares to bring back normalcy to the market, said a high official of the ministry.
Finance Minister AMA Muhith will hold a series of meetings with all state companies after he returns from Saudi Arabia, said an official of the Banking Division.
The finance ministry will send letters to relevant line ministries for the enterprises to offload shares, he added.
The official also said the government will complete offloading shares of the 26 companies by September, while some companies will finalise the size of their initial public offerings this month.
The state run investment firm has requested the finance ministry to offload shares of state enterprises through the fixed price method as the book building method and direct listing method used in the past gave rise to manipulations, he said.