Runner shares slide as sponsor announces full exit

Runner Automobiles PLC saw its share price fall after a key sponsor announced plans to divest his entire stake, raising concerns among investors amid the company's ongoing transition toward electric vehicles (EVs).

Taslim Uddin Ahmed, a sponsor and former director of the company, has declared his intention to sell all 27.09 lakh shares he currently holds.

According to a regulatory filing with the Dhaka Stock Exchange today (27 April), Ahmed plans to complete the sale by 30 April through both public and block markets at the prevailing market price.

Following the announcement, Runner's share price declined by 4.66%, closing at Tk38.90.

The move comes shortly after a similar decision by major foreign investor Brummer Frontier, which on 9 April announced plans to offload 50 lakh shares from its holding of 1.83 crore shares. The simultaneous exits by a sponsor and a foreign shareholder have sparked unease among market participants.

The sell-off is notable given the company's recent strategic development. On 24 March, Runner announced a Master Supply and Manufacturing Agreement (MSMA) with BYD Auto Industry Company to explore local production of electric vehicles. While the partnership marks a significant step forward for Bangladesh's automotive sector, the company noted that the final investment size and financial impact are yet to be determined.

Financially, the company is facing mixed performance. The runner reported a net profit of Tk 2.93 crore for the first half of the current fiscal year (July–December), but posted a loss of Tk 1.41 crore in the October–December quarter.

Despite this volatility, revenue remains strong. The company recorded a 31% year-on-year increase in revenue to Tk592.18 crore in the first half, driven by solid demand in the truck, pickup, and tractor segments.#####