The shares to be transferred outside the trading system of the exchange within next 30 working days with effect from 2 February 2026
Md Salam Obaidul Karim, sponsor and managing director of Salvo Organic Industries, a listed company on the stock exchanges, has declared his intention to transfer 13.50 lakh shares — equivalent to over 2% — to his son, Md Atteul Karim Rafee.
Atteul Karim Rafee is a general shareholder of the company, and the shares planned for transfer in demat form are worth around Tk3.87 crore based on the current market price of Tk28.7 each, according to the disclosures.
The shares to be transferred outside the trading system of the exchange within next 30 working days with effect from 2 February 2026.
As of June 2025, Salam Obaidul Karim held 44.16 lakh shares of Salvo Organic Industries, representing a 6.79% stake, while sponsor-directors together owned 25.18% of the company’s total outstanding shares. Since November 2025, he has declared through the stock exchanges his intention to purchase an additional 45.36 lakh shares of the company.
Although its latest shareholding report of the company is not available on its website, but with the buying shares from the market in the last three months, its existing shareholding in the company jumped to over 12%.
Now, from his holding, he expressed his intention to transfer 13.50 lakh shares to his son Atteul Karim.
Salvo Organic Industries formerly known as Salvo Chemical Industry was initially established to manufacture sulphuric acid and other inorganic chemicals.
In line with changing market dynamics and long-term growth strategy, it gradually diversified its operations into the production of organic chemicals.
The new product portfolio now includes starch, liquid glucose, germ, fibre, and gluten, which are widely used across food, packaging, textile, and other industries.
In the first half of the current fiscal year, it had reported revenue of Tk153.29 crore, and profit of Tk1.64 crore.
Source: The Business Standard
Read More at: csslbd.net
