Biafo Industries Executive Director Acquires Over 1.3 Million Shares through Inheritance

Karachi, According to information available from the Pakistan Stock Exchange (PSX), Biafo Industries Limited has announced a significant share transaction involving M. Afzal Khan, an Executive Director of the company. The transaction, categorized as an inheritance-in, involves 1,391,480 shares transferred at a rate of zero.The shares, managed through the Central Depository Company (CDC), represent a noteworthy change in the shareholding pattern of Biafo Industries. The company has confirmed that this transaction will be reviewed in the upcoming board meeting to address any potential non-compliance issues as mandated by PSX Regulation 5.6.1.(d).Furthermore, the company stated that if the holding period for these shares is less than six months, a cheque equivalent to the profit will be deposited with the Securities and Exchange Commission of Pakistan (SECP), in compliance with Section 105 of the Securities Act, 2015.