Government, multinationals to release 5% shares each in capital market

ICB and industries ministry have held meeting with stakeholders to implement move

The interim government and multinational companies will each offload at least 5 percent of their shares in joint ventures in the capital market, as part of an earlier decision that is now moving towards implementation.

To this end, the Ministry of Industries and the Investment Corporation of Bangladesh (ICB) held a coordination meeting with the relevant companies on Thursday afternoon.

The ministry’s media statement described the meeting as having “fruitful” discussions on the companies’ positions and responsibilties.

Officials from the ministry’s state-owned enterprises involved in joint ventures, representatives of the multinational companies, and officials from ICB attended the meeting.

Representatives from Unilever Bangladesh, Nuvista Pharma, Sanofi Bangladesh, IPDC Finance Limited, Reckitt Benckiser (Bangladesh), The Bengal Glass Works, Mirpur Ceramic Works, Himadri Limited and Karnaphuli Fertiliser Company Limited were present.

The press note said the meeting was held as part of efforts to implement the directives of the chief advisor to review, develop, and strengthen the overall condition of the capital market.

Industries Secretary Md Obaidur Rahman presided over the meeting.