ACI Foundation announces to buy ACI’s shares

ACI Limited’s sponsor director ACI Foundation has announced plans on Wednesday to buy 1.35 lakh shares of the company at current prices.

Among the total number of shares, 1.04 lakh shares will be traded in the block and the rest in the public market through Dhaka Stock Exchange (DSE) within the next 30 working days.

Mutual holdings of the sponsors and directors are 35.46 per cent while institutional investors and public shareholders own 40.49 per cent and 24.05 per cent respectively.

The ACI Foundation is a non-profit organisation wholly owned subsidiary of the American Concrete Institute. Operating with a MISSION to make strategic investments in ideas, research and people for the betterment of the concrete industry. It supports a wide range of research and educational initiatives that contribute to keeping the concrete industry at the forefront of technological advances.

The conglomerate is engaged in the manufacturing of pharmaceuticals, consumer goods and animal health care products, and marketing them along with fertiliser, seeds, and other agricultural items