The buy intimation of 1,512,575 shares represents 1.58 per cent of the companyThree directors of Aftab Automobiles are set to buy shares of the publicly listed company in a move to fulfil the regulatory requirement of a minimum of 30 per cent shareholding by sponsors. The company, which is mainly engaged in assembling and body fabrication of HINO luxury bus, posted the declarations on the Dhaka Stock Exchange (DSE) website on Sunday, which has helped fuel its stock price to close 6.6 percent higher. The buy intimation of 1,512,575 shares represents 1.58 per cent of the company. Additional shares will fulfil the regulatory requirement of 30 per cent minimum shareholding by directors as currently the sponsors/directors hold 28.42 per cent. Aftab Automobiles, which has been listed with Dhaka Stock Exchange since 1987, has been consistently paying out cash dividend to its investors from 2015.

Source: Dhaka Tribune December 06, 2020 18:26 UTC