Confidence Cement PLC plans to sell its entire stake in its associate company Confidence Batteries Limited for Tk11.35 crore as the cement maker looks to meet immediate financial obligations.
The listed company’s board approved the sale of 1,03,14,500 ordinary shares in Confidence Batteries to a sister concern Confidence Infrastructure PLC under a share purchase agreement, according to a stock-exchange disclosure.
The shares carry a face value of Tk10 each and the shares are being sold slightly above the face value.
The deal remains subject to shareholder approval at a general meeting, the company said on Sunday.
The move comes as the listed company’s operating cash flow weakened despite remaining profitable.
Confidence Cement’s consolidated earnings per share fell to Tk10.20 in the year ended 30 June 2026 from Tk11.23 a year earlier.
Consolidated net operating cash flow per share turned negative Tk4.79 from a positive Tk0.07 in the previous year.
Its consolidated net asset value per share rose to Tk96.89 from Tk88.68.
Separately, the board recommended a 10 per cent cash dividend for the year.
Confidence Cement will hold its annual general meeting through a digital platform at 11am on 28 December.
The record date for entitlement to the dividend has been set for 22 November.
