Wednesday, October 17, 2007

Rupali Bank shares soar 57%

from The Bangladesh Daily Star

The share price in Rupali Bank on the Dhaka Stock Exchange (DSE) yesterday soared by 57.26%, on the latest news that the state-run bank's future owner Prince Bandar will finalise the deal with the government next month. According to the press reports, Saudi prince's adviser Frank Peters visited Rupali Bank on October 9 and assured the bank management that the prince will finish the Sales-Purchase Agreement (SPA). The government that owned 93.6% shares of Rupali Bank had decided to sell the stakes at the suggestions of the World Bank and International Monetary Fund (IMF), which conditioned their loans with the country's banking sector reforms. In March of 2005, the government assigned the Privatisation Commission to sell the bank.

No comments: