NRBC Bank sponsor to sell 96% stakes

ABM Abdul Mannan, a sponsor of NRB Commercial Bank, wants to sell 96 percent of his stakes in the bank, as soon as the shares become sellable after the completion of the lock-in period.

Mannan will sell 4.49 crore out of his 4.7 crore shares at prevailing market price as the shares' lock-in period—when the invested amount cannot be withdrawn or sold—ended in 2023.

Today, the lender shared the information through a disclosure on the website of the Dhaka Stock Exchange.

The stock of the company was traded at Tk 16.80 at the DSE today and at this price Mannan will get Tk 75 crore by selling his stakes.

The Daily Star contacted the bank's company secretary, Mohammad Ahsan Habib, to know the reason of the share sell. But he did not take the phone calls.

A top official of the bank confirmed this correspondent that Mannan lives abroad.