AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, Habib Bank Limited (HBL) has announced that Aga Khan Fund for Economic Development (AKFED), a substantial shareholder of the Company, has executed a series of transactions to increase its stake in the bank.
According to the disclosure of interest filed with the Pakistan Stock Exchange, AKFED has bought a total of 360,750 shares of HBL on May 4, 2023. The transactions were executed through the Central Depository Company (CDC) and the shares were purchased at various rates ranging from PKR 77.98 to PKR 78.17 per share.
The breakdown of the transactions is as follows:
1. Bought 40,000 shares at PKR 77.98 per share
2. Bought 21,412 shares at PKR 77.99 per share
3. Bought 298,529 shares at PKR 78.00 per share
4. Bought 6,800 shares at PKR 78.01 per share
5. Bought 5,000 shares at PKR 78.05 per share
6. Bought 20,000 shares at PKR 78.10 per share
7. Bought 10 shares at PKR 78.11 per share
8. Bought 100 shares at PKR 78.14 per share
9. Bought 4,109 shares at PKR 78.15 per share
10. Bought 290 shares at PKR 78.17 per share
The total value of these transactions is estimated to be around PKR 28.1 million.
The disclosure of interest by AKFED indicates its confidence in the future prospects of HBL and the potential for growth in the banking sector in Pakistan. The move is expected to have a positive impact on HBL’s stock price and could attract further investments from other institutional investors.