AGA KHAN FUND FOR ECONOMIC DEVELOPMENT Acquires Substantial Stake in Habib Bank Limited

Business & Finance

Karachi, In a notable development, the AGA KHAN FUND FOR ECONOMIC DEVELOPMENT, a substantial shareholder of Habib Bank Limited, has executed a series of share acquisition transactions today, significantly increasing its ownership in the company.

The transactions, as disclosed by Habib Bank Limited, took place on September 7, 2023, and are detailed as follows:

1. Transaction 1: The AGA KHAN FUND FOR ECONOMIC DEVELOPMENT acquired 962 shares of Habib Bank Limited at a rate of 97.25 per share, utilizing the CDC Ready form of share certificates.

2. Transaction 2: A substantial increase followed with the acquisition of 21,739 shares at a rate of 97.40 per share, again using CDC Ready certificates.

3. Transaction 3: The fund continued its buying spree by acquiring 25,000 shares at a rate of 97.60 per share, with CDC Ready certificates.

4. Transaction 4: An additional 5,000 shares were purchased at a rate of 97.70 per share, maintaining the use of CDC Ready certificates.

5. Transaction 5: The fund made a substantial investment in acquiring 200,000 shares at a rate of 97.75 per share, using CDC Ready certificates.

6. Transaction 6: Another 5,995 shares were added to the portfolio at a rate of 97.80 per share, also utilizing CDC Ready certificates.

7. Transaction 7: A nominal acquisition of 10 shares was made at a rate of 97.84 per share, still utilizing CDC Ready certificates.

8. Transaction 8: The fund acquired 9,497 shares at a rate of 97.85 per share, maintaining the use of CDC Ready certificates.

9. Transaction 9: The fund significantly increased its stake with the purchase of 50,000 shares at a rate of 97.89 per share, using CDC Ready certificates.

10. Transaction 10: Finally, 50,492 shares were acquired at a rate of 97.90 per share, again using CDC Ready certificates.

This series of transactions demonstrates the AGA KHAN FUND FOR ECONOMIC DEVELOPMENT's confidence in Habib Bank Limited's prospects and its commitment to strengthening its position as a substantial shareholder. Such strategic investments often indicate a positive outlook on the company's performance and future growth potential.

Habib Bank Limited's stockholders and financial analysts will be closely watching these developments, anticipating their potential impact on the bank's share value and overall performance in the market.