Samuel S Chowdhury, chairman of Square Pharmaceuticals, has announced his intention to purchase 15 lakh shares of the company, valued at over Tk 32 crore based on the current market price reportedly.
As both a sponsor and a key stakeholder, Samuel plans to acquire these shares through the public and block markets on the Dhaka Stock Exchange (DSE) over the next 30 working days, according to a disclosure by Square Pharmaceuticals on the DSE website.
Despite this move, the company’s stock price remained unchanged yesterday, closing at Tk 217.5 per share.
This trend of insider purchases isn’t new—over the past month, two other sponsor directors, Tapan Chowdhury and Anjan Chowdhury, also declared their plans to buy 15 lakh shares each. Notably, Anjan Chowdhury has already completed his purchase.
As of November 30 last year, Samuel S Chowdhury held a 9.32% stake in the company. With this acquisition, his ownership will increase to 9.49%.
Read more:Â Bangladesh’s Pharma Exports Surge, But February Drop Raises Questions
As of January 2025, the company’s ownership breakdown was as follows:
Sponsors & Directors: 42.91%
Public Shareholders: 27.67%
Foreign Investors: 15.54%
Institutional Investors: 13.88%
Financially, Square Pharmaceuticals has been on an upward trajectory. In the October-December quarter of FY 2024-25, its net profit surged by 26% year-on-year to Tk 660 crore.
For the first half of FY 2024-25, the company recorded Tk 1,269 crore in profit – marking a 13% increase from the previous year. However, in the full FY 2023-24, profit after tax saw a 5.34% decline, settling at Tk 1,559 crore.
With steady growth and major stakeholders reinforcing their confidence, all eyes remain on Square Pharma’s next move in the stock market!
For more updates, be with Markedium.
Leave a comment