Karachi, Millat Tractors Limited announced that one of its key stakeholders, Mr. Laeeq ud Din Ansari, a Non-Executive Director of the company, has executed a series of substantial share purchases in the company. The transactions took place on September 8, 2023, and have garnered significant attention within the financial community.
Mr. Ansari's purchases were made in a total of ten transactions, each involving the acquisition of company shares. The details of the transactions are as follows:
1. On September 8, 2023, Mr. Ansari purchased 10 shares at a rate of 445.40 per share.
2. He acquired an additional 12 shares at a rate of 445.49 per share on the same date.
3. Mr. Ansari made a significant purchase of 1,398 shares at a rate of 445.50 per share.
4. Another batch of 10 shares was acquired at a rate of 445.79 per share.
5. He further increased his stake with the purchase of 200 shares at 445.90 per share.
6. Mr. Ansari bought 55 shares at a rate of 445.98 per share.
7. He purchased 14 shares at 445.99 per share.
8. In a substantial move, Mr. Ansari acquired 2,151 shares at a rate of 446.00 per share.
9. A modest purchase of 5 shares was made at 446.19 per share.
10. The Non-Executive Director concluded his buying spree with the acquisition of 85 shares at 446.20 per share.
All these transactions were executed in the form of CDC Ready certificates.
The series of acquisitions by Mr. Laeeq ud Din Ansari signals his confidence in the company's performance and long-term prospects. His purchases reflect a strong commitment to Millat Tractors Limited, which is a leading manufacturer of agricultural tractors and machinery in Pakistan.
This move also suggests that Mr. Ansari is positioning himself as a substantial shareholder in the company, which could potentially impact its corporate governance and strategic decisions in the future.
As the financial community closely watches these developments, the market's response to Mr. Ansari's significant stake in Millat Tractors Limited will be a topic of interest in the coming days.