Unilever has bought shares of all entrepreneurial directors of GlaxoSmithKline (GSK) Bangladesh Limited, a capital market listed multinational company.
Last Thursday, GSK Bangladesh Entrepreneur SetFirst Limited announced the sale of 81.98 percent shares. Unilever Overseas Holdings BV bought through the block market of Dhaka Stock Exchange (DSE) on the first working day of the week on Sunday.
GlaxoSmithKline Bangladesh Chairman Masud Khan stated that the exchange of shares has been completed today following all the rules and regulations based on the decision of the key entrepreneurs of the multinational company. The announcement was made earlier through the stock exchange.
Unilever bought about 98 lakh 75 thousand shares of GSK through City Brokerage House. Unilever has bought all the shares at Tk 2,046.30 per share.
GSK Bangladesh is a subsidiary of British pharmaceutical giant GlaxoSmithKline PLC. GSK operates in Bangladesh through two units: Consumer Healthcare, and Pharmaceuticals. However, previously GlaxoSmithKline shut down all the activities of the pharmaceutical factory and the pharmaceutical business unit at one stage, showing the losses of the pharmaceuticals unit.
On December 3, 2018, Unilever’s parent company Unilever NV announced the purchase of shares of GSK. However, on March 22 this year, it was decided to sell all the shares of SetFirst to the subsidiary Unilever Overseas Holdings BV instead of the parent company of Unilever.