Gemini Sea Food’s sponsors announce to sell shares

Two sponsor directors of Gemini Sea Food Ltd have declared their intention to sell a total of 2.22 lakh shares of the company at the prevailing market price.

The sale will be done in the block market through the Dhaka Stock Exchange (DSE) within the next 30 working days.

Sponsor Directors Ameena Ahmed and Kazi Shahid Ahmed announced the sale of 1 lakh and 1.22 lakh shares out of their holdings of 7.72 lakh and 7.93 lakh shares, respectively.

On Wednesday, the company’s shares increased by 6.35 per cent on the country’s prime bourse, reaching Tk 496.60 per share and closing at Tk 485.70.

Earlier this year, the company announced to sell processed shrimps to Germany-based frozen food company Lenk Frozen Foods (Asia). The company expects to earn more than Tk 50 crore in revenue annually under the agreement.