Karachi: Bestway Cement Limited, a substantial shareholder in United Bank Limited, has executed significant transactions in the bank’s shares, according to a disclosure filed under the Pakistan Stock Exchange Regulation 5.6.4. The transactions were reported by the bank on November 24, 2024.

On November 19, 2024, Bestway Cement Limited purchased two million shares at a rate of 330.00 per share. This acquisition increased their cumulative shareholding to 109.41 million shares, representing 8.94% of United Bank Limited’s total shares.

A subsequent transaction occurred on November 22, 2024, when Bestway Cement Limited bought an additional 9.26 million shares at a rate of 331.50 per share. This purchase further elevated their total shareholding to 118.66 million shares, accounting for 9.69% of the bank’s shares.

According to information available from the Pakistan Stock Exchange (PSX), these transactions mark a strategic increase in Bestway Cement Limited’s stake in United Bank Limited.