Premier Bank’s foreign director to sell 32 lakh shares

Premier Bank's director Yeh Cheng Min, a Taiwanese citizen, has declared he will sell 32.03 lakh shares of the lender within the next 30 days at the prevailing price in the public market of the Dhaka Stock Exchange (DSE).

Yeh Cheng Min, who is also the managing director of Ace Bicycle (BD) Ltd, holds 2.20 crore shares of the private sector bank.

The bank's another director, Nahyan Haroon, has declared to sell 5.50 lakh shares out of his holdings of 2.19 crore shares.

In May, Premier Bank's share price jumped 26% to reach Tk13.5 each at DSE.

But in June, the share price came down 8% to stand at Tk12.30. At the end of Thursday's trading session, its share's closing price stood at Tk12.30.

In the first quarter of this financial year, the bank reported a 9% growth in the consolidated earnings per share.

At the end of the first quarter, its consolidated earnings per share stood at Tk0.60.

The bank had paid 12.50% cash and 7.50% stock dividends to its shareholders for the financial year 2020 that ended on 31 December.

In the previous year, it had paid 5% cash and 5% stock dividends.

In that year, it reported consolidated earnings per share of Tk2.13, which was 38% lower than the previous year.

Of total shares, sponsors and directors hold 35.33%, institutional investors 20.50%, foreign investors 1.45%, and general investors 42.72%.