MIDAS Financing to sell three commercial properties

MIDAS Financing, a non-bank financial institution (NBFI), plans to sell three commercial properties at prevailing market prices, subject to approval from shareholders and regulators.

According to a disclosure to the Dhaka Stock Exchange (DSE) yesterday, the decision was taken at a board meeting on August 27. The properties include commercial floor space on the second floor, along with eight car parking spaces, at Nahar Green Summit in Dhanmondi.

Tap here to add The Daily Star as a trusted source

Another property comprises commercial floor space on the first floor, along with one car parking space, at Excel SM Tower in East Nasirabad, Chattogram.

The third property comprises commercial floor space on the third floor, along with one car parking space, at Jamil Shopping Center in Bogura.

The asset sale comes as the company faces a liquidity crunch amid a rise in classified and non-performing loans, said Tanvir Hasan, company secretary of MIDAS Financing PLC.

“Some of our good borrowers also failed to repay their loans,” he said.

There has also been some demand from depositors to withdraw their deposits, he said, adding that the company has a large fixed-asset base and the board wants to revive its financial position by selling some of its assets. Shares of MIDAS Financing rose 1.79 percent to Tk 5.70 on the DSE yesterday.

The NBFI reported a loss of Tk 89.30 crore in the first six months of 2026, sharply higher than the Tk 46.88 crore loss recorded in the same period a year earlier, according to its financial statements.