Home ›› 04 Apr 2023 ›› Stock
Three directors of Baraka Power Limited announced that they will sell their entire stakes from the company.
The directors who would sell their shares are – Md Ahsanul Kabir, Faisal Ahmed Chowdhury, and Nanu Kazi Mohammed Miah.
Currently, they own 47 lakh shares, 48 lakh shares, and 47 lakh shares respectively in the company, and as per a Dhaka Stock Exchange (DSE) filing posted on Monday, their shares would be sold through block trading at the prevailing market price.
On the other hand, NRB Ventures Limited, and Fusion Holdings Limited, the company’s two corporate directors, announced their intention to purchase 40 lakh shares and 1 crore shares respectively at the prevailing market price via the DSE in the next 30 working days, the DSE filing read.
Meanwhile, Karnaphuli Harbour Limited, another corporate director of the company, expressed its intent to sell 10 lakh shares out of its total holding of 62 lakh shares in the company at the prevailing market price through the DSE within the same timeframe.
Baraka Power had previously made an announcement on March 19 regarding the sale of 47 lakh shares by one of its directors— Abdul Bari.
Meanwhile, NRB Ventures Limited, and Fusion Holdings Limited had completed their acquisition of 20 lakh shares and 26 lakh shares respectively at the prevailing market price via the Dhaka Stock Exchange.
In the fiscal year 2021-22, Baraka Power's net profit from its associate firms decreased by 28 per cent to Tk 50.13 crore, mainly due to the appreciation of the dollar against the taka.
In the first half of FY23, the company incurred a loss of Tk 9 crore due to foreign currency exchange losses in its associate companies and a decrease in power supply demand.
Baraka Power shares closed at Tk 21.30 per share on the DSE trading floor on Monday.
