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Karachi, Providus Capital (Pvt) Limited, an associate of Muhammad Jawaid Iqbal, President & CEO of United Bank Limited (UBL), has purchased a significant number of UBL shares over multiple transactions.
According to information available from the Pakistan Stock Exchange (PSX), the series of acquisitions took place on four different days. On May 15, 2024, Providus Capital bought 1,370,122 shares at a rate of 203.1848 rupees per share. This was followed by the purchase of 500,000 shares on May 16 at 209.1633 rupees each. The largest transaction occurred on May 17, where 2,256,378 shares were acquired at a price of 212.8824 rupees per share. The final reported purchase was on May 20, with 1,773,994 shares bought at 212.5139 rupees each.
The shares, acquired through the Central Depository Company (CDC) in the ready market, totaled 5,900,494 shares.