Directors of NCC, Dhaka, Pubali Bank announce major share buy-sell plans

The shares will be executed at prevailing market prices through both the public and block markets of the DSE by 29 October.

Sponsors and director entities of three major private commercial banks NCC Bank, Dhaka Bank, and Pubali Bank have disclosed intentions to trade substantial blocks of shares in their respective institutions on the public and block markets of the Dhaka Stock Exchange (DSE).

According to a regulatory disclosure on the premier bourse, MA Quasem, a sponsor of NCC Bank, has expressed his intention to offload 92,000 shares from his total holding of 49.92 lakh shares.

The shares will be executed at prevailing market prices through both the public and block markets of the DSE by 29 October. This follows a previous transaction in which the sponsor sold 26.65 lakh shares. Following the disclosure, NCC Bank’s share price slipped by 0.70% to close at Tk14.20 on the DSE.

Conversely, Dhaka Bank Chairman Abdul Hai Sarker has announced plans to purchase one lakh shares of the bank from the public market by 29 October. Sarker, who also serves as the chairman of the Bangladesh Association of Banks, had earlier acquired 9 lakh shares of the lender.

Despite the insider buy signal, Dhaka Bank shares edged down 0.88% to settle at Tk11.20.

In a similar buying move, corporate director entity Trouser Line Limited plans to acquire 30 lakh shares of Pubali Bank PLC at prevailing market prices.

Rana Laila Hafiz is a director of Pubali Bank and also serves as the managing director of Trouser Line Limited. The decision comes on the heels of the company’s early September announcement to purchase 23.50 lakh shares, following a previous acquisition of 40 lakh shares in the bank. Pubali Bank ended the session 1.05% lower at Tk37.80.

Sponsor and director transactions are closely monitored by market participants as key indicators of boardroom confidence and personal liquidity management. The trading disclosures come at a time when commercial banks are navigating regulatory realignments and broader equity market cautiousness, according to the market insiders.

Source: The Business Standard