Many listed cos see rise in foreign ownership
FE Report | Tuesday, 23 January 2018
Many listed companies posted rise in foreign ownership at the end of 2017.
Following increased participation by foreign shareholders, foreign stakes in some companies rose up to 41.28 per cent by December 28, 2017 from that of 2016.
The companies which witnessed rise in foreign stakes are IDLC Finance, British American Tobacco Bangladesh Company (BATBC), City Bank, One Bank, Delta Brac Housing Finance Corporation, Beximco Pharmaceuticals, ACME Laboratories and Singer Bangladesh.
According to information of Dhaka Stock Exchange (DSE), the portion of foreign investors at IDLC Finance was 4.25 per cent as of December, 2016. The foreigners' stake in IDLC Finance rose to 11.52 per cent as of December 28, 2017.
On the other hand, general shareholders' stake in IDLC Finance was 14.21 per cent as of December 31, 2017 and the quantity rose to 15.83 per cent by December 28, 2017.
The foreign stakes in One Bank was 0.16 per cent as of December 31, 2016 and it rose to 6.77 per cent by December 28, 2017. During this period, the stakes owned by general shareholders ranged between 48.95 per cent and 48.11 per cent.
Foreign shareholders held 3.08 per cent shares in Singer Bangladesh as of December 31, 2016 and the quantity rose to 11.80 per cent by December 28, 2017. During this period, general shareholders' stake declined to 18.52 per cent from 19.09 per cent.
The stakes of foreign investors in British American Tobacco Bangladesh Company (BATBC) rose marginally in 2017. The foreign stakeholders held 14.41 per cent shares in BATBC as of December 31, 2016 and the quantity rose to 15.34 per cent as of December 28, 2017.
General shareholders hold very insignificant number of shares at BATBC. General shareholders owned 0.81 per cent share as of December 31, 2016 and the quantity declined to 0.71 per cent by December 28, 2017.
Foreign shareholders own a significant quantity of shares at BRAC Bank compared to general investors. The number of stakes held by foreign shareholder was 42.15 per cent as of December 31, 2016 and the amount declined to 40.68 per cent by December 28, 2017. The stakes of general shareholders rose to 6.56 per cent as of December 28, 2017 from 6.20 per cent calculated as of December 31, 2016.
Foreign stakes in City Bank was 6.10 per cent as of December, 2016 and the quantity rose to 15.02 per cent by December 28, 2017. On the other hand, the stakes held by general shareholders declined to 36.30 per cent on December 28, 2017 from 45.17 per cent calculated as of December 31, 2016.
The foreign stakes at Delta Brac Housing Finance Corporation was 33.95 per cent as of December 31, 2016. The amount rose to 41.28 per cent by December 28, 2017. The stakes of general shareholders at Delta Brac Housing Finance Corporation declined to 3.64 per cent by December 28, 2017 from 5.89 per cent calculated as of December 31, 2016.
The foreign shareholders hold a significant amount of shares at Beximco Pharmaceuticals compared to sponsor-director, institutes and general public. The amount of foreign stakes at Beximco Pharmaceuticals almost remained static in 2017. Foreign shareholders held at 41.45 per cent stakes at Beximco Pharmaceuticals as of December 31, 2016 and the amount stood at 41.95 per cent by December 28, 2017. The amount of shares held by general shareholders declined to 17.74 per cent on December 28, 2017 from 21.36 per cent calculated as of December 31, 2016.