Value of each NCB share fixed at Tk 100

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FE Report
The value of each share of the three nationalised commercial banks (NCBs) namely Sonali, Janata and Agrani has been fixed at Tk 100 prior to the signing of vendor agreement today (Thursday).
The state-owned banks will be transformed to public limited companies (PLC) upon signing of the vendor agreement between the Bangladesh Bank and the NCBs at the ministry of finance.
The shares, however, can only be purchased by government organisations are entitled to purchase those shares, according to a Ministry of Finance (MoF) source.
The Finance and Planning Adviser Mirza Azizul Islam will be present at the signing ceremony, sources said.
The newly appointed board of directors will run the banking companies independently but the government will hold the right to appoint directors whose number will range between minimum seven and maximum 13.
On October 31, the Council of Advisers gave approval to the vendors' agreement after reviewing the corporatisation process.
The state-run Sonali, Janata and Agrani banks have already obtained separate licences from the Registrar of Joint Stock Companies and Firms to operate as PLCs.