DSE approves transferring 1cr shares of Golden Harvest to IPDC
Based on Golden Harvest Agro’s market price of Tk11.80 today, the 1 crore shares approved for transfer are worth approximately Tk11.8 crore
The Dhaka Stock Exchange (DSE) has approved the transfer of 1 crore shares held by two directors of Golden Harvest Agro Industries to IPDC Finance, according to disclosures published today (10 December).
The transfers fall under Regulation 47(1)(d) of the DSE Listing Regulations, which governs share transfers in cases involving confiscation or loan defaults.
One disclosure states that the DSE has authorised the transfer of 90 lakh shares owned by sponsor director Ahmed Rajeeb Samdani to IPDC Finance, with execution required within 30 working days, effective from 10 December. A separate disclosure notes approval for the transfer of 10 lakh shares held by Director Nadia Khalil Choudhury to the same institution, also within 30 working days from the same effective date.
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Based on Golden Harvest Agro's market price of Tk11.80 today, the 1 crore shares approved for transfer are worth approximately Tk11.8 crore. Against the company's outstanding Tk34.86 crore loan with IPDC Finance, this would cover roughly 34% of the liability.
When contacted, Golden Harvest company Secretary Md Ibrahim Hossain said he was unaware of the development. According to October's shareholding report, Samdani held 4.73 crore shares, representing a 21.95% stake in the company, while Choudhury held 43.16 lakh shares, or 2%.
