Two directors of Sonali Aansh sell 10.72 lakh shares worth Tk32cr
The two directors of Sonali Aansh Industries Limited, a listed firm that manufactures jute products, have sold 10.72 lakh of their shares in the company worth Tk32.37 crore.
The market price per share was Tk302.
The directors, Jafar Ahmed Patwari and Mohammed Mahbubur Rahman Patwari, announced their intention to sell these shares at the end of April, with a deadline of 30 working days to make the sale.
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Today, more than two months after the announcement, the directors confirmed the completion of the sale at the current market price through the Dhaka Stock Exchange (DSE), according to a disclosure on the stock exchange's website.
On 30 April, Jafar Ahmed Patwari expressed his intention to sell 5.72 lakh shares. Similarly, Mohammed Mahbubur Rahman Patwari wanted to sell 5 lakh shares at the existing market price.
In the 2022-23 fiscal year, Sonali Aansh Industries paid a 110% dividend to its shareholders, comprising a 100% stock dividend and a 10% cash dividend.
The publicly listed exporter of jute products paid the 100% stock dividend with approval from the Bangladesh Securities and Exchange Commission (BSEC), mirroring the dividend distribution of the previous fiscal year, 2021-22.
During the July to March quarter of 2023-24, Sonali Aansh Industries reported Tk50.41 crore in revenue and Tk8.48 crore in net profit after tax. This was a significant increase compared to the same period in the previous fiscal year when the company recorded a revenue of Tk25.14 crore and a net profit of Tk71 lakh.
The company's revenue nearly doubled in the first nine months of FY24, and its profit surged by 1094% as its revenue grew significantly.
In the 2022-23 fiscal year, the company's profit increased by 97% year-on-year to Tk2.09 crore.
