ICB allowed holding over 5% shares of blue-chip firms

In a letter to the ICB Managing Director Abul Hossain on Wednesday, the BSEC said the state-owned investment firm can hold more than 5% shares of the blue-chip listed companies.
Earlier, ICB had the approval to hold up to 10% shares of any listed firm without prior approval of the regulator, but after Professor Shibli Rubayat-Ul-Islam became the BSEC chairman in 2020, the commission reduced the limit to 5% in a bid to increase the efficiency of ICB.

Source: The Business Standard