Karachi: Fatima Fertilizer Company Limited has disclosed recent transactions involving shares in United Bank Limited (UBL) by directors, executives, and substantial shareholders. The disclosure highlights the involvement of The Providus Capital (Pvt) Limited, an associate of Mr. Muhammad Jawaid Iqbal, President & CEO of UBL.

According to the information made public, Mr. Abid Ali, an executive, engaged in multiple transactions of UBL shares over a two-year period. On January 25, 2016, Mr. Ali purchased 500 shares at a rate of 80.85 per share, resulting in a cumulative shareholding of 1,000 shares, marking a negligible cumulative percentage. The following year, on January 25, 2017, Mr. Ali increased his shareholding by acquiring an additional 1,000 shares at a rate of 81.02 per share, bringing his total to 2,000 shares, still reflecting a cumulative percentage of 0.00%.

According to information available from the Pakistan Stock Exchange (PSX), these transactions are part of the designated market category where shares are traded in the Central Depository Company (CDC) under the ready market. The gradual acquisition of shares by executives like Mr. Ali demonstrates a strategic yet minimal increase in shareholding, contributing to the overall interests held by insiders in UBL.

These disclosures provide insights into the slow yet steady accumulation of shares by key executives, reflecting their confidence in the company's future prospects. The involvement of Providus Capital, associated with UBL's top leadership, underscores the strategic financial maneuvers within the company's upper echelons.