Karachi: Meezan Bank Limited has announced a transaction involving the sale of shares by one of its executives, Mr. Muhammad Umar Khan Fareedy, as per the disclosure requirements under Pakistan Stock Exchange (PSX) Regulation 5.6.4.

The transaction, executed on September 23, 2024, involved Mr. Fareedy selling 1,666 shares of Meezan Bank at a rate of PKR 235.01 per share. According to information available from the Pakistan Stock Exchange (PSX), this sale was conducted through the Central Depository Company (CDC) on the ready market.

Post-transaction, Mr. Fareedy's cumulative shareholding in Meezan Bank has been updated to 10,000 shares, which represents 0% in terms of percentage ownership. This disclosure aligns with PSX regulations requiring timely information sharing about transactions by relevant persons within the company.

Such disclosures are crucial for maintaining transparency in the operations of publicly listed companies, ensuring that all stakeholders are informed about significant transactions that may influence their investment decisions.