The Investment Corporation of Bangladesh (ICB) has significantly expanded its portfolio by acquiring a 7.13% stake in Unilever Consumer Care Limited, valued at approximately Tk338 crore, between April and November 2024. This acquisition has increased ICB’s total holdings in the company to 10.82%, stated in a report.
Unilever Consumer Care is a leading player in the health drinks sector, with Horlicks as its flagship brand. The acquisition aligns with ICB’s strategic focus on investing in high-growth sectors and trusted brands.
ICB’s acquisition involved the purchase of 16.89 lakh shares from the secondary and block markets on the Dhaka Stock Exchange (DSE). During the same period, the share price of Unilever Consumer saw significant fluctuations, rising as high as Tk3,231 in August before settling at Tk2,554.60 at the close of the latest session.
The state-owned financial institution, which has served as a corporate director on Unilever Consumer’s board, has been implementing various reforms to enhance its investment strategy, including avoiding junk stocks and formulating a robust investment policy.
Unilever Consumer, benefiting from strong market presence and increased backing from ICB, has demonstrated impressive performance with a 32% rise in net profit in 2023, leading to a substantial cash dividend distribution of 300%.
ICB’s improved financial performance has also been highlighted, with a notable reduction in consolidated losses compared to the previous fiscal year. This improvement is attributed to higher capital gains from securities sales and increased dividend income, showcasing the institution’s commitment to delivering value to its stakeholders.
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