The Investment Corporation of Bangladesh (ICB) has sold its complete shareholding in Islami Bank Limited for Tk109 crore. The transaction took place through the block market of the Dhaka Stock Exchange (DSE) on May 23.ICB held 3,34,68,956 shares of Islami Bank, equivalent to 2.07% of the total shares, according to the bank’s data. The shares were sold at Tk32.6 each, but the identities of the buyers remain unknown, as confirmed by the DSE. Following the sale of its entire stake, the ICB has withdrawn its nominated director, Md Abu Taher, Md Ahmedur Rahman, from the board of Islami Bank. An anonymous official from ICB cited a liquidity crisis and funds being stuck in the capital market due to floor price regulations as the reason for the decision to sell the bank’s holdings.
ICB Sells Entire Shareholding of Islami Bank
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