Bangladesh Power Development Board (BPDB) wants to sell a portion of its shares from the Power Grid Company of Bangladesh (PGCB).
BPDB expressed its intention to sell 3.43 crore shares out of its total 60.32 crore shares at prevailing market price, said a company disclosure on Monday.
The state-owned organisation's shares will be sold within the next 90 working days, it also said.
The closing prices of each share of Power Grid on Monday were Tk 43 at the Dhaka bourse.
Power Grid made a profit of Tk317 crore in the 2019-20 financial year. The company's earnings per share (EPS) is Tk4.45, and has declared a 20 per cent cash dividend for shareholders.
However, in the third quarter of the same fiscal, it witnessed an earning erosion of 30 per cent.
Its shares traded between Tk 36.10 and Tk 55.20 in the past year.
The company’s paid-up capital is Tk 712 crore, and authorised capital is Tk 1,000 crore.
As of February 29, 2020, directors and sponsors own 84.64 per cent of the company 12.25 per cent by institutes, 0.16 per cent by foreigners, and 2.95 per cent by the general public.
