Dominage Steel Building Systems Limited has announced plans to sell a significant portion of its shareholding, paving the way for a change in ownership and management.
According to a price sensitive information (PSI) disclosure, the company’s board of directors, in a meeting held today (25 April), decided to offload 30.78 million shares, equivalent to 30% of its total holdings, through an off-market transaction at a negotiated price.
The proposed buyers include Akij Resources Limited, along with individual investors Sheikh Jasim Uddin and Faria Hossain. The company said it will soon execute a formal sale agreement with the buyers, subject to regulatory approval.
To proceed with the transaction, Dominage Steel will seek approval from the Bangladesh Securities and Exchange Commission. Upon completion of the regulatory process and transfer of shares, a new board of directors is expected to assume control of the company’s management and operations.
Market observers view the development as a major shift for the company, which has faced operational challenges in recent times. The entry of Akij Resources, one of the country’s leading conglomerates with a strong presence in steel and construction, is expected to bring financial strength and operational expertise.
The company expressed optimism that the transition will help revive its production activities and improve efficiency. It also noted that synergies with the incoming investors’ existing industrial infrastructure could enhance long-term business prospects.
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