Samuel S Chowdhury, chairman of Square Pharmaceuticals, has announced plans to purchase 15 lakh shares of the company, valued at over Tk 32 crore at the current market price.
According to a disclosure on the Dhaka Stock Exchange (DSE) website, Chowdhury intends to acquire the shares within the next 30 working days through both public and block market transactions at the prevailing market price.
This follows similar announcements from two other sponsor directors, Tapan Chowdhury and Anjan Chowdhury, who also planned to buy 15 lakh shares each. Square Pharmaceuticals confirmed that Anjan Chowdhury had completed his share purchase.
As of November 30 last year, Samuel S Chowdhury held a 9.32 percent stake in the company. The latest acquisition will increase his stake to 9.49 percent.
At the close of trading yesterday, Square Pharmaceuticals’ share price remained unchanged at Tk 217.5 on the DSE.
As of January, sponsors and directors collectively owned 42.91 percent of the company’s shares, while public shareholders held 27.67 percent. Foreign and institutional investors owned 15.54 percent and 13.88 percent, respectively.
