Karachi: In a notable development, H4 Management (Pvt.) Limited, a substantial shareholder of First Habib Modaraba, executed a significant transaction involving the purchase of shares in the company. The transaction took place on November 11, 2024, according to a disclosure made under section 5.6.4 of the Pakistan Stock Exchange (PSX) Regulations.

The transaction involved the acquisition of 232,869 shares at a rate of 15.10 per share. The shares were purchased in the form of Central Depository Company (CDC) Non-Deliverable Market (NDM) certificates. This acquisition underscores the active participation and continued interest of substantial shareholders in the operations of First Habib Modaraba.

According to information available from the Pakistan Stock Exchange (PSX), the details of this transaction will be presented at the upcoming board meeting of First Habib Modaraba. Any non-compliance issues associated with the transaction will be duly highlighted for the board's consideration, as mandated by clause 5.6.4 of the PSX Regulations. The board is expected to review the transaction and confirm the compliance status to the Exchange.