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Karachi, AGA Khan Fund for Economic Development, a substantial shareholder of Habib Bank Limited, has increased its stake in the bank with multiple purchases. According to the disclosure of interest by a director, CEO, or executive of a listed company and their spouses and the substantial shareholders, the fund bought a total of 220,951 shares of Habib Bank Limited on May 5, 2023, with different rates ranging from Rs. 76.74 to Rs. 76.90 per share. The transactions were executed through the Central Depository Company (CDC) in the form of ready certificates.
The first transaction involved the purchase of 1,001 shares at a rate of Rs. 76.74 per share, followed by the second transaction of 63,098 shares at a rate of Rs. 76.75 per share. The third and fourth transactions were for 100 shares at a rate of Rs. 76.76 per share and 3,500 shares at a rate of Rs. 76.79 per share, respectively. The fifth and sixth transactions were for 55,902 shares at a rate of Rs. 76.80 per share and 21,561 shares at a rate of Rs. 76.81 per share, respectively. The seventh transaction was for 2,000 shares at a rate of Rs. 76.82 per share, followed by the eighth transaction of 200 shares at a rate of Rs. 76.84 per share. The last transaction was for 10,500 shares at a rate of Rs. 76.85 per share, and the fund purchased 55,790 shares at a rate of Rs. 76.90 per share.
The total number of shares purchased by the fund was 220,951, with a total value of around Rs. 16,972,878. This move suggests the fund’s confidence in the future prospects of Habib Bank Limited. The bank’s shares closed at Rs. 77.05 on May 5, 2023, up by 0.33% from the previous day’s closing price.