Thermax Textile Mills, a sponsor shareholder of SBAC Bank PLC and part of the Thermax Group, plans to sell nearly all its shares in the bank. Abdul Kadir Molla, chairman of Thermax Group and a director of SBAC Bank, currently holds a 4.27% stake in the bank.
Thermax Textile aims to sell 3.48 crore shares, representing 99% of its holdings, on the block market at the current market price. Recently, SBAC Bank’s share price peaked at Tk 10 but has since declined, closing at Tk 8.7. SBAC Bank became publicly listed in 2021, with sponsors holding 77.64% of the shares.
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