Rupali Bank, an state owned commercial bank has sold 50,450 shares out of 3,068,750 as of January 4 this year.

The government on November 24 last year decided to offload further 24.55 per cent or 2,857,380 shares of Rupali Bank Ltd held by it through Investment Corporation of Bangladesh (ICB).

Later on December 15, the bank authority declared that they would offload 3,068,750 shares instead of earlier declared 2,857,380 shares.

Investors complained that the process of offloading Rupali Bank shares is going at snail’s pace as the issue manager is delaying the process.

On October 30 last year, Finance Minister AMA Muhith announced that eight state-owned enterprises (SoEs), already listed in the capital market, will offload more shares in the market within next 15-20 days.

Among the eight SoEs only Rupali Bank has offloaded shares within the stipulated time line.

Source: Daily Sun/ Bangladesh/ Jan-07-2011