The Bangladesh Power Development Board (BPDB) will offload 10 per cent of its total stake in Dhaka Electric Supply Company (DESCO), according to Dhaka Stock Exchange (DSE).
A declaration posted on the website of the premier bourse said the shares would be offloaded as per ‘instruction’ from the government.
The BPDB is a corporate sponsor of the DESCO which was listed on the stock markets in 2006.
“As per Government instruction, the BPDB is to off-load/sale 10 per cent shares of DESCO out of its total holding of 293,104,259 shares which is 73.72 per cent of total shares of the Company,” the DSECO said through a declaration posted on DSE website.
According to DSE information, out of 397,569,804 securities of DSECO, government holds 75 per cent shares, institutes 17.69 per cent shares, foreigners 0.57 per cent and public 6.74 per cent.