DSE now cancels Golden Harvest owners' share transfer to IPDC
The DSE had initially approved the share transfer on 10 December last year under DSE Listing Regulations, which govern transfers in cases involving confiscation or loan defaults.
The Dhaka Stock Exchange (DSE) has cancelled its previously approved transfer of 1 crore shares belonging to two directors of Golden Harvest Agro Industries, a listed company, to the non-bank financial institution IPDC.
The DSE had initially approved the share transfer on 10 December last year under DSE Listing Regulations, which govern transfers in cases involving confiscation or loan defaults.
Reversing its previous decision, the DSE, in two separate disclosures issued today (6 January), said it had withdrawn its approval for the transfer of 90 lakh shares held by sponsor-director Ahmed Rajeeb Samdani and 10 lakh shares held by director Nadia Khalil Choudhury to IPDC Finance, a non-bank financial institution.
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DSE's previous disclosures stated that the total 1 crore shares – 90 lakh belonging to Ahmed Rajeeb Samdani and 10 lakh held by Nadia Khalil Choudhury – will be transferred within 30 working days.
Today, shares of Golden Harvest closed at Tk10.70 each on the DSE. Based on the current market price, the value of 1 crore shares is worth approximately Tk10.70 crore.
As per the financial statement, Golden Harvest has an outstanding loan amounting to Tk34.86 crore with IPDC Finance.
Golden Harvest, one of the pioneers in frozen food manufacturing in Bangladesh, got listed on the bourses in 2023.
According to January'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%.
Of the total shares, sponsor-directors hold 30.42% stake in the company, while institutional investors hold 36.44%, foreign shareholders 0.22% and the general public hold 32.92%, as of December 2025.
