Karachi: Habib Bank Limited (HBL) has reported a series of share sales by Mr. Zahid Aftab GM, an executive of the bank. According to a document submitted to the Pakistan Stock Exchange, the transactions were carried out on October 7, 2024.

According to information available from the Pakistan Stock Exchange (PSX), the disclosure was mandated under PSX regulation 5.6.4, which deals with the disclosure of interest by relevant persons holding company shares. The report indicated that Mr. Aftab sold a total of 2,399 shares across three separate transactions. Each sale was conducted via the Central Depository Company (CDC) and the shares were disposed of at rates ranging from 128.50 to 128.52 rupees per share.

The executive's actions are in compliance with the regulatory framework that requires such transactions to be disclosed promptly. These sales were reported to the securities market with detailed information, including the nature of the transaction and the number of shares sold.

This disclosure provides transparency regarding the trading activities of major shareholders and executives within Habib Bank Limited. It is a routine compliance measure that ensures all market participants are informed of significant transactions that might affect their investment decisions.

HBL has ensured that all necessary details of these transactions are updated in the UIN Management System, as required by the Securities Act of 2015. This regulatory adherence helps maintain trust and integrity in the financial operations of publicly traded companies in Pakistan.