EBL to sell 87% holdings in EBL NRB Mutual Fund

Eastern Bank Limited (EBL), one of the sponsors of EBL NRB Mutual Fund, has announced to sell over 87 percent of its holdings in the fund at the prevailing market price.

EBL made the disclosure in a post given on the Dhaka Stock Exchange website on Tuesday.

Presently, EBL holds 19,938,441 units in the mutual fund, of which it will sell 1,74,38,441 units or 87.46 percent within next 30 working days.

Market price of EBL NRB Mutual Fund rose to Tk 7.4 a unit on November 17 from Tk 5.8 on October 18 this year. However, the price per unit came down to Tk 6.9 on Tuesday due to profit taking by investors.