Karachi: Muzzaffar Hayat Piracha, the CEO and Executive Director of Air Link Communication Limited, has sold a significant number of shares in the company. The transaction, part of a regulatory disclosure under PSX Regulation 5.6.4, involved the sale of 7.5 million shares on October 3, 2024, at a rate of 135.25 PKR per share, totaling approximately 1.01 billion PKR.
According to information available from the Pakistan Stock Exchange (PSX), this sale has adjusted Piracha’s cumulative shareholding in the company to 100.16 million shares, which now represents 25.34% of the total shares. The transaction was conducted through the Central Depository Company (CDC) in the Non-Deliverable Market (NDM) category. According to the disclosure, these transactions are typical of those performed by directors, CEOs, executives, and substantial shareholders, along with their spouses and minors, as required by PSX regulations.
This disclosure not only provides transparency regarding the transactions of high-level executives within the company but also offers shareholders and potential investors insight into the confidence leaders have in the company, as reflected through their personal stakes in its success.