Karachi: Biafo Industries Limited has disclosed a recent transaction involving the sale of shares by one of its executives, as per the regulatory requirement under Pakistan Stock Exchange regulation 5.6.4. The transaction, dated October 6, 2025, involved the executive, Shafqat Ali, who sold 2,900 shares at a rate of 176.2028 per share. This transaction brings the cumulative percentage of Mr. Ali’s shareholding to 0.00%.
According to information available from the Pakistan Stock Exchange (PSX), such transactions by directors, CEOs, executives, substantial shareholders, their spouses, and minors must be presented at the subsequent Board of Directors meeting. The disclosure requirements ensure transparency and compliance with the regulatory framework governing share transactions.
The company is obligated to submit the extracts of the minutes of the board meeting via Form-30 through the PUCARS system. Additionally, the rules stipulate that if the holding period for such transactions is less than six months, any profit made must be deposited with the Securities and Exchange Commission of Pakistan (SECP) under Section 105 of the Securities Act, 2015. No director, CEO, or executive is allowed to engage in share dealings during a closed period, ensuring adherence to ethical trading practices.
Biafo Industries Limited is categorized under the designated market category as outlined by PSX. The company is also required to update the transaction details immediately in the UIN Management System, maintaining the integrity and accuracy of shareholder records.