Foreign stakes in many small-cap listed companies declined significantly in last 10 months as the foreigners offloaded their shares held in those companies.
The foreign stakes in large-cap companies, however, declined marginally during the period.
The companies which saw significant decline in foreign stakes are ML Dyeing, aamra networks, VFS Thread Dyeing, Queen South Textile Mills and Shepherd Industries.
Of the companies, ML Dyeing saw the highest amount of share sales as foreigners offloaded their entire stake held in the company in last ten months.
The foreign stake was 18.52 per cent in ML Dyeing compared to its total paid-up capital as on June 30, 2021 and the entire stake was offloaded by the foreigners within March 31, 2022.
The stake of foreign investors in aamra networks was 15.98 per cent compared to the company's total paid-up capital as on June 30, 2021.
Afterwards, the foreign stake came down to 2.93 per cent as on March 31, 2022 and finally the stake stood at 0.88 per cent as on April 30, 2022.
The foreigners had 3.06 per cent stake in Queen South Textile Mills as June 30, 2021 and later the stake declined to 0.97 per cent within March 31, 2022 and finally stood at 1.17 per cent as on April 30, 2022.
Shepherd Industries also saw major reduction in foreign stakes in last 10 months. Foreigners held 18.40 per cent as June 30, 2021 in the company.
Later, the foreign stake in the company declined to 12.97 per cent within March 31, 2022 and finally the amount stood at 12.42 per cent as on April 30, 2022.
Foreigners held 1.07 per cent shares in IFIC Bank as on June 30, 2021. The stake of the foreigners came down to 0.97 per cent within April 30, 2022.
Of the large cap companies, foreign investors held 15.27 per cent shares in Square Pharmaceuticals as on June 30, 2021.
Later, the stake of the foreigners declined to 14.19 per cent within March 31, 2022 and finally stood at 14.20 per cent as on April 30, 2022.
Foreigners held 37.88 per cent shares in BRAC Bank as on June 30, 2021 and later the amount stood at 37.37 per cent as April 30, 2022.
The foreigners had 20.58 per cent shares in Islami Bank Bangladesh within June 30, 2021 and the amount stood at 20.48 per cent as on April 30, 2022.
The stake held by foreigners in Beximco declined to 1.12 per cent within April 30, 2022 from 1.47 per cent calculated as on June 30, 2021.
The stake held by the foreigners in Beximco Pharmaceuticals declined to 29.19 per cent within April 30, 2022 from 30.55 per cent calculated as on June 30, 2021.
Foreign investors held 3.11 per cent in Grameenphone as on June 30, 2021 and the amount declined to 2.86 per cent within April 30, 2022.
Of other companies which saw marginal decline in foreign stakes are IDLC Finance, Bata Shoe Company (Bangladesh), British American Tobacco Bangladesh Company, Olympic Industries, Delta Brac Housing Finance Corporation, The City Bank and Singer Bangladesh.
Renata and Eastern Housing saw rise in foreign stakes in last 10 months.
The amount of foreign stake in Eastern Housing was zero as on June 30, 2021 and later the foreigners held 2.07 per cent shares in the company within April 30, 2022.
Foreigners held 22.74 per cent in Renata within June 30, 2021 and later the amount stood at 22.91 per cent as on April 30, 2022.
mufazzal.fe@gmail.com