Karachi, The AGA KHAN FUND FOR ECONOMIC DEVELOPMENT, a substantial shareholder in Habib Bank Limited (HBL), has substantially increased its stake in the company. The fund, known for its engagement in various economic development initiatives, made these purchases on September 11, 2023, signaling its continued confidence in HBL's prospects.
The transactions, as disclosed by HBL, reveal the fund's commitment to investing in the banking sector. The AGA KHAN FUND FOR ECONOMIC DEVELOPMENT acquired a total of 350,416 shares in HBL during these purchases. The shares were purchased at various rates, ranging from 97.00 to 97.48 Pakistani Rupees per share.
The breakdown of the transactions is as follows:
1. AGA KHAN FUND FOR ECONOMIC DEVELOPMENT acquired 266,266 shares at a rate of 97.00 Pakistani Rupees per share.
2. An additional 25,000 shares were purchased at 97.15 Pakistani Rupees per share.
3. 25,000 more shares were acquired at a rate of 97.20 Pakistani Rupees per share.
4. The fund bought 5,000 shares at 97.27 Pakistani Rupees per share.
5. Another 5,000 shares were purchased at 97.28 Pakistani Rupees per share.
6. 5,000 shares were obtained at a rate of 97.29 Pakistani Rupees per share.
7. The fund made a substantial purchase of 38,000 shares at 97.30 Pakistani Rupees per share.
8. A smaller acquisition of 279 shares occurred at 97.32 Pakistani Rupees per share.
9. The fund acquired 2,500 shares at 97.39 Pakistani Rupees per share.
10. The final transaction involved the purchase of 671 shares at 97.48 Pakistani Rupees per share.
These purchases were executed through the Central Depository Company (CDC), and the shares are in "Ready" form of share certificates.
The AGA KHAN FUND FOR ECONOMIC DEVELOPMENT's increased investment in HBL is seen as a vote of confidence in the bank's long-term growth prospects. The fund's substantial stake in the bank is expected to further solidify its position as one of HBL's prominent shareholders.
HBL's stockholders and financial analysts are keenly observing these developments, which may influence the future direction of the bank's stock price and its overall performance in the financial market.