Dhaka, April 26 -- The board of Dominage Steel Building Systems has decided to sell its ownership stakes to Akij Resources and two individuals, even as the company's stock has rallied over the past eight months.

The decision was disclosed on the company's website on Saturday.

According to the price-sensitive information (PSI), Dominage Steel will sell 30 per cent, or 30.78 million shares, of the company at a negotiated price through an off-market transaction.

In fact, the entire holdings of the existing sponsor-directors will be handed over to Akij Resources and two individuals, namely Sheikh Jasim Uddin and Faria Hossain.

"Upon completion of the regulatory process and approval from BSEC, a new board of directors will take over the ma...