ACI Foundation to buy 1.35 lakh ACI Ltd shares
ACI Foundation, a sponsor director of ACI Limited, has declared to buy 1.35 lakh ACI Ltd shares through the Dhaka Stock Exchange (DSE) within the next 30 working days.
According to the announcement filed at the DSE on Wednesday, the sponsor director will buy some 1.04 lakh shares of ACI Limited from the block market and the rest from the regular public market.
In the block market, buyers and sellers meet beyond the regular trading screen to trade their bulk amount of shares at a renegotiated price which can deviate up to 10% of the regular market price.
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ACI shares have been stuck at the floor price of Tk260.20 since September last year.
Earlier, within the last six months, ACI Chairman M Anis Ud Dowla bought 4.50 lakh shares of the company in two phases through both the block and public market platforms of the DSE.
ACI Ltd, formerly known as Imperial Chemical, was listed in 1976 and following the British founders' divestment, it turned into ACI more than two decades ago.
The pharmaceutical company, through its aggressive expansions, has emerged as a top-tier conglomerate of the country that now owns businesses in the fields of consumer products, automobile, agro machinery, crop care, retail chain, plastic products, paints and many more.
However, the conglomerate incurred Tk1.79 in loss per share in the first half of the ongoing 2022-23 fiscal year due to the rising dollar, inflation, and business costs.
Sponsors and directors collectively hold 35.46% shares of the company, where public shareholders hold 24.05% and institutional investors hold 40.49% of the shares.
