Govt to divest part of IFIC Bank stake thru' stock market

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FE Report
An official review meeting Wednesday decided to divest a portion of government-held share in the IFIC Bank through the share market by next one month.
The government has 35 per cent share in the International Finance Investment and Commerce (IFIC) Bank, a listed company, whose 45 per cent share is owned by public.
Some 30 per cent shares of the state-owned oil distributing entities -- Meghna and Jamuna - will also hit the share market next month.
Finance and Planning Adviser Mirza Azizul Islam presided over the meeting and reviewed the progress relating to off-loading of government companies' shares in the stock market.
Azizul Islam said off-loading of Meghna and Jamuna shares might be delayed by one month due to non-completion of some procedural formalities.
The meeting also set March next as the deadline for releasing 25 per cent share of Titas gas company in the stock market.
The decision on offloading of 120,000 government share in the IFIC bank was taken in 2005. The government holds 1.4 million shares of the bank under its ownership.
The review meeting also decided to further offload shares of some listed state-owned power companies.