AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, In a series of recent transactions, Aga Khan Fund for Economic Development (AKFED), a substantial shareholder of Habib Bank Limited (HBL), has increased its stake in the bank. The details of these transactions, which took place on May 17, 2023, have been revealed.
The first transaction involved the purchase of 969 shares of HBL at a rate of Rs 73.63 per share. These shares were acquired through the Central Depository Company (CDC) in the form of ready shares. Additionally, AKFED purchased 1,000 shares at a rate of Rs 73.65 per share.
Further increasing its stake, AKFED acquired 8,000 shares of HBL at Rs 73.70 per share. The shares were obtained through another transaction, bringing AKFED’s total number of shares to 9,969.
In addition to the above, AKFED executed several more purchases. They bought 2,500 shares at Rs 73.71 per share, followed by another 2,500 shares at Rs 73.75 per share. Furthermore, 500 shares were acquired at Rs 73.77 per share.
As a result of these transactions, AKFED’s total shareholding in HBL now stands at 18,991 shares. These purchases have solidified AKFED’s position as a substantial shareholder in Habib Bank Limited.
AKFED also acquired 2,500 shares at Rs 73.82 per share and an additional 6 shares at Rs 73.83 per share. This further showcases the fund’s commitment to increasing its investment in HBL.
With the final purchase of 8,000 shares at Rs 73.85 per share, AKFED concluded its series of transactions, reflecting a strong confidence in the future prospects of Habib Bank Limited.