Karachi: Image Pakistan Limited disclosed a substantial share purchase by Asad Ahmad, an Executive Director of the company, on August 30, 2024.

Asad Ahmad, holding a key executive position at Image Pakistan Limited, has recently increased his stake in the company through a significant acquisition of shares. According to the disclosure filed under PSX Regulation 5.6.4, Ahmad purchased 410,000 shares at a rate of 12.59 per share on August 30, 2024. This transaction was conducted in a ready market, with the shares certified by the CDC.

According to information available from the Pakistan Stock Exchange (PSX), this purchase has elevated Ahmad's total holdings to 437,117.77 shares, making up 18.97% of the company's total shares. This acquisition not only reflects a considerable vote of confidence in the company’s prospects by one of its leading executives but also positions Ahmad more prominently among substantial shareholders.

This move by Ahmad could be seen as an alignment with the company’s future growth trajectories or possibly a strategic positioning ahead of significant corporate developments. Image Pakistan Limited, listed under the energy sector, has been a topic of keen interest among investors, particularly with shifts in market dynamics and regulatory environments influencing the sector.