Two Crown Cement, GPH Ispat directors to gift Tk166cr shares to their families

Two leading entrepreneurs in Bangladesh's cement and steel sectors have initiated a significant wealth transfer to family members, as part of a structured push toward generational succession in their businesses.

Mohammed Jahangir Alam, chairman of Crown Cement and managing director of GPH Ispat, along with Alamgir Kabir, vice-chairman of Crown Cement and chairman of GPH Ispat, have announced plans to gift shares worth a combined Tk166.14 crore to their spouses and children.

According to disclosures filed with the Chittagong Stock Exchange, the transfers aim to facilitate a smooth transition of leadership to the second generation while deepening their involvement in the companies' ownership structures. 

The valuation of the gift is based on the closing market prices of the respective companies as of today (15 April). 

Jahangir Alam, also a director of Premier Cement, plans to transfer 1.40 crore shares of Crown Cement, 45 lakh shares of Premier Cement, and 3.50 crore shares of GPH Ispat to his wife Masuma Begum, daughter Sadman Syka Sefa, and son Salehin Musfique Sadaf.

Following the transfers, his stake in Crown Cement will fall from 12.47% to 3%, while his holdings in Premier Cement and GPH Ispat will decline to 3.15% and 11.17%, respectively.

At the same time, Alamgir Kabir intends to gift 46 lakh shares of Crown Cement to his wife Kamrun Nahar, son Raihanul Kabir, and daughters Raisa Kabir and Nusaibah Kabir. His personal stake in the cement manufacturer will decrease from 5.67% to 2.57% after the transfer.

All the recipients are currently registered as general shareholders of the companies. 

The regulatory disclosures specify that the share transfers will be executed as gifts outside the stock exchange's trading system, subject to regulatory approval, with a target completion date of 30 April 2026.

Market observers say such large-scale intra-family transfers among major industrial groups are increasingly reflecting a shift toward formalised succession planning in Bangladesh's corporate sector. By transferring these assets, the founders are not only securing their legacy but also ensuring that the next generation has a vested interest and a formal role in the companies' capital structures. 

While the individual holdings of the senior directors will decline, overall family ownership will remain within the sponsor-director category, ensuring continued control over Crown Cement, Premier Cement, and GPH Ispat.