Karachi: In a substantial series of transactions dated August 30, 2024, Mrs. Noor Khan Bano, the widow of a major shareholder of Trust Modaraba, Mr. Aslam Motiwala, executed the sale of 1,824,822 certificates of the Trust. This event took place in Karachi's financial markets, reflecting notable activity within the 'Ready' market segment.
The series of sales reported involved various amounts and rates, beginning with the largest single transaction of 1,774,822 certificates sold at a rate of 6.48 each. Subsequent sales were considerably smaller, with amounts ranging from just 5 to 10,000 certificates, priced between 6.01 and 6.22 each. All transactions were facilitated through the Central Depository Company (CDC), ensuring a seamless and secure transfer of securities.
According to information available from the Pakistan Stock Exchange (PSX), such a significant move by a member of the family of a substantial shareholder could have implications on the market perceptions and future trading of Trust Modaraba's certificates.
The sales were disclosed in compliance with regulatory requirements, emphasizing transparency and adherence to market rules designed to maintain fairness in financial dealings.