28 lakh shares of Genex Infosys is being gifted

Genex Infosys Ltd has recently announced that one of its directors, Chowdhury Fazle Imam, plans to transfer 23.44 per cent of his company shares to his brother, a general shareholder of the company, Chowdhury Fazle Alam.

According to a Dhaka Stock Exchange (DSE) filing, Chowdhury Fazle Imam will transfer 28 lakh shares out of his holdings of 1.1 crore shares.

This transfer of shares will take place as a gift outside the trading system of the exchange within the next 30 working days, subject to the approval of the DSE.

The company had a successful fiscal in 2021–22, with a profit of around Tk 38.17 crore. It also provided a return on investment to its shareholders in the form of an 11 per cent cash dividend and a 2 per cent stock dividend.

Listed in 2019, the company’s consolidated EPS for the period of October through December 2022 was Tk 1.22 against Tk 1.21 for the same period in the previous year, and the period of July through December 2022 was Tk 2.61 against Tk 2.49.

Despite these positive financial results, the share prices of Genex Infosys Ltd took a hit this Sunday, as the closing price at the DSE was Tk 96.60 per share.