Confidence Cement PLC has decided to sell its entire stake in Confidence Cement Dhaka Limited to Confidence Power Holdings Ltd (CPHL) for Tk 140.97 crore.
The move, aimed at aligning with the company’s strategic objectives and addressing short-term financial needs, was approved during a board meeting held on August 4, 2025, as per a disclosure on the Dhaka Stock Exchange (DSE), says a press release.
The transaction will follow the terms laid out in a share purchase agreement between Confidence Cement and CPHL, pending adherence to all relevant laws and regulations.
In its financial results for the January-March quarter, Confidence Cement reported a profit of Tk 24.84 crore. However, its consolidated earnings per share (EPS) decreased to Tk 2.88, down from a restated Tk 3 in the same period last year.
As of 30 June 2025, the company’s shareholding structure stood as follows: 30.34% held by sponsors and directors, 37.34% by institutional investors, and 32.32% by the general public, according to DSE data.
Following the announcement, Confidence Cement shares saw a 4.3% rise, reaching Tk 60.8 on the DSE on Wednesday.