The Daily Corporate Desk
Dhaka, July 4, 2026: Akij Resources is set to acquire a 30% stake in listed steel manufacturer Dominage Steel Building Systems Limited for an estimated Tk 400 million, marking a significant ownership change in the loss-making company.
According to regulatory and capital market sources, Dominage Steel has applied to the Bangladesh Securities and Exchange Commission (BSEC) for approval to transfer shares held by its sponsor-directors. The decision to sell the stake was approved at the company’s board meeting held on April 25, 2026.
Under the proposed transaction, the sponsor-directors will sell 30.78 million shares, representing 30% of the company’s total shareholding, to Akij Resources, its owner Sheikh Jasim Uddin and Faria Hossain through an off-market transaction.
Sources familiar with the deal said the two parties have already signed an agreement, while the transaction is awaiting regulatory approval from the BSEC. The securities regulator has sought supporting documents from Dominage Steel, which have already been submitted by the company.
Market sources said the shares are being transferred at Tk 13 per share, comprising the Tk 10 face value and a Tk 3 premium. Based on this valuation, Akij Resources’ investment in the company is estimated at around Tk 400 million (approximately Tk 40 crore).
Although neither party has officially disclosed the financial details of the transaction, capital market sources have confirmed the agreed share price.
Following the transaction, the remaining 70% of Dominage Steel’s shares will continue to be held by institutional and general investors through the stock market.
The proposed acquisition reflects Akij Resources’ strategic interest in expanding its industrial portfolio, while the completion of the deal will depend on approval from the securities regulator.
