BM Report:
Fusion Holdings, a corporate director of Baraka Power Limited, a listed energy and power company, has announced plans to sell 300,000 shares on the Dhaka Stock Exchange (DSE). This information was revealed by DSE sources on Wednesday.
Fusion Holdings currently holds 19,487,992 shares of Baraka Power. The announced sale represents approximately 1.5% of their total holdings.
The shares will be available for purchase in both the public and block markets of the DSE within the next 30 working days.
The reason behind the share sale is not officially disclosed by Fusion Holdings or Baraka Power. However, it could be driven by a variety of factors, such as portfolio diversification, financial needs, or a change in investment strategy.
The Baraka Power share price on the DSE has fluctuated in recent months, reaching a high of Tk27.90 in December 2023 and a low of Tk19.50 in January 2024.
The upcoming share sale by Fusion Holdings could put some downward pressure on the stock price in the short term.
Analysts are monitoring the situation and have mixed opinions on the potential impact of the share sale. Some believe it could be a temporary blip in the stock’s long-term trajectory, while others see it as a signal of potential concerns within the company.
