Commercial Bank is looking to divest its stake in Commercial Development. Both companies are listed and as such fall within the purview of the SEC. The SEC has under a very misguided policy decided in a very specific sense what the public float of a particular company should be. This policy is highly misguided as market cap is not particularly a strong indication of the value of a company. Commercial Bank falls slightly shy of this public float with regards to its stake in Commercial Development. No pragmatism has been displayed by either the Board of Commercial Bank and or the SEC on this issue. Commercial Bank has slowly divested part of its stake in Commercial Development at huge losses to the shareholder. Low liquidity is not a particularly cancerous issue to a stock exchange. Also a much better cure to that ailment would be a reduction in transaction costs.
26.02.2018 Commercial Bank LetterÂ
29.09.2017 Commercial Bank Shareholder Letter
SEC Media-Release-Public-Float