Karachi: The Pakistan General Insurance Company Limited has reported a series of share purchases by Ali Shahzad, a substantial shareholder, to the Pakistan Stock Exchange. Detailed transactions reveal that Ali Shahzad bought a total of 11,500 shares over multiple transactions between October 27, 2023, and November 1, 2023, with rates ranging from Rs. 5.15 to Rs. 5.90.

According to the records, on October 27, Ali Shahzad acquired 5,000 shares at Rs. 5.50 each, followed by two separate transactions on October 31, buying 5,000 shares at Rs. 5.20 and another 1,500 shares at Rs. 5.15. The buying continued on November 1 with purchases of 500 shares at Rs. 5.89 and another 500 shares at Rs. 5.90, all through the Central Depository Company (CDC) in the Ready Market.

This disclosure is in line with clause 5.6.1.(d) of the PSX Regulations, which requires the declaration of acquisition or disposal of shares by directors, CEOs, executives, their spouses, and substantial shareholders within a listed company. These notifications aim to ensure transparency and uphold fair trading practices in the securities market.