2024-09-07 09:59:37
Published: 13:08, 5 September 2024
The board of directors of United Commercial Bank (UCB) PLC, a listed company in the banking sector in the capital market, has decided to invest Tk 50 crore as an entrepreneur in a mutual fund. But the board of the bank withdrew from that decision.
On Thursday (September 5), this information was revealed by Dhaka and Chittagong Stock Exchange (DSE-CSE).
On May 28, UCB decided to invest Tk 50 crore as a sponsor in a closed and growth mutual fund managed by Capitec. However, considering the prevailing market conditions, the investment decision is cancelled.
Incidentally, UCB was listed in the capital market in 1986. This ‘A’ category bank has a paid up capital of Tk 1,550 crore 37 lakh 60 thousand. Accordingly, the total number of shares of the bank is 155 crore 3 lakh 75 thousand 898. Out of this, 31.87 percent shares are held by entrepreneurial directors, 0.81 percent by government, 22.98 percent by institutional investors, 0.52 percent by foreign investors and 43.82 percent by general investors.
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