Thirty-two sponsor-directors of the listed companies have expressed their intention to purchase about 9.4 million shares of their respective companies to comply with the securities regulator's recent directive on holding the minimum stakes mentioned 2%.
They have made known their respective intention at the website of the Dhaka Stock Exchange (DSE).
The Securities and Exchange Commission (SEC) notification said individually each of the directors, other than the independent director(s), of any listed company must hold minimum shares amounting to two per cent of the company's total paid-up capital, and in total the directors have to own at least 30 per cent of the total paid up capital.
The sponsors-directors, who presently do not own the minimum stakes, will have to acquire the remaining portion of shares within six months of publishing a gazette on the SEC notification. Otherwise, a company will not be able to declare right shares and raise capital through repeat public offering (RPO).
After the issuance of notification by the SEC, the sponsor-directors of different listed companies, including Beximco Limited, Beximco Pharmaceuticals, UCBL, Al-Arafah Islami Bank, Takaful Insurance, Agrani Insurance, Rupali Insurance, Meghna Life Insurance, NCC Bank, Square Pharmaceuticals and Jute Spinners, will purchase shares of their respective companies at prevailing market price.
Abdul Malek Mollah, one of the sponsor-directors of Al-Arafah Islami Bank, has reported his intention of purchasing 0.60 million shares. Later, he has also reported completion of purchasing the same number of shares.
Md Sahadat Hossain and Arif Ahmed Chowdhury, two directors of Fu Wang Food, expressed their intention to purchase 0.1 million and 0.5 million shares respectively.
Salman F Rahman, sponsor-director of both Beximco Limited and Beximco Pharmaceuticals, announced purchasing of half a million shares of each of the companies.
Md Talha and Md Shuhrawardi, sponsor-directors of Al-Haj Textile, have reported their intention to buy 42,000 and 20,000 shares respectively.
Mohammed Zahirul Islam Chowdhury, one of the sponsor-directors of Popular Life Insurance, will purchase 3,73,716 shares.
Besides, Mohammed Ali Hossain of Peoples Insurance will purchase 0.72 million shares, Evana Fahmida Mohammad of City Bank 0.30 million, and Sk Amanullah of Uttara Bank will buy 65,000 shares.
They have made known their respective intention at the website of the Dhaka Stock Exchange (DSE).
The Securities and Exchange Commission (SEC) notification said individually each of the directors, other than the independent director(s), of any listed company must hold minimum shares amounting to two per cent of the company's total paid-up capital, and in total the directors have to own at least 30 per cent of the total paid up capital.
The sponsors-directors, who presently do not own the minimum stakes, will have to acquire the remaining portion of shares within six months of publishing a gazette on the SEC notification. Otherwise, a company will not be able to declare right shares and raise capital through repeat public offering (RPO).
After the issuance of notification by the SEC, the sponsor-directors of different listed companies, including Beximco Limited, Beximco Pharmaceuticals, UCBL, Al-Arafah Islami Bank, Takaful Insurance, Agrani Insurance, Rupali Insurance, Meghna Life Insurance, NCC Bank, Square Pharmaceuticals and Jute Spinners, will purchase shares of their respective companies at prevailing market price.
Abdul Malek Mollah, one of the sponsor-directors of Al-Arafah Islami Bank, has reported his intention of purchasing 0.60 million shares. Later, he has also reported completion of purchasing the same number of shares.
Md Sahadat Hossain and Arif Ahmed Chowdhury, two directors of Fu Wang Food, expressed their intention to purchase 0.1 million and 0.5 million shares respectively.
Salman F Rahman, sponsor-director of both Beximco Limited and Beximco Pharmaceuticals, announced purchasing of half a million shares of each of the companies.
Md Talha and Md Shuhrawardi, sponsor-directors of Al-Haj Textile, have reported their intention to buy 42,000 and 20,000 shares respectively.
Mohammed Zahirul Islam Chowdhury, one of the sponsor-directors of Popular Life Insurance, will purchase 3,73,716 shares.
Besides, Mohammed Ali Hossain of Peoples Insurance will purchase 0.72 million shares, Evana Fahmida Mohammad of City Bank 0.30 million, and Sk Amanullah of Uttara Bank will buy 65,000 shares.
