Monno Ceramic chair to gift Tk20cr worth of shares to husband
The share transfer will be made as a gift outside the trading system of the stock exchange, according to a disclosure issued by the company
Afroza Khanam, sponsor and chair of Monno Ceramic Industries Ltd, is set to gift a large portion of her holdings – 24,50,000 shares – to her husband, Moynul Islam, who currently holds shares in the company as a general investor.
According to a disclosure filed by Monno Ceramic today on the Dhaka Stock Exchange, the transfer will take place outside the exchange's trading system and is expected to be completed by 31 October 2025.
Based on the closing price of Tk78.80 per share, the gifted shares are valued at around Tk20 crore.
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Monno Ceramic Industries, a flagship concern of the Monno Group, is among Bangladesh's oldest and largest ceramic manufacturers, producing a wide range of tableware for both local and international markets.
Earlier in June this year, the company announced that it had returned to full-scale production after more than a decade of struggling with gas supply shortages – a major development that marked a turnaround for the manufacturer.
In January, the company sold its entire 9.79% stake in its sister concern, Monno Fabrics, as part of a strategy to inject fresh funds into its operations and pay off bank liabilities, in an effort to strengthen its financial footing.
Monno Ceramic, which was listed on the Dhaka bourse in 1985, saw mixed financial performance in the 2023-24 fiscal year.
Its annual revenue dropped by nearly 50% to Tk30.27 crore, while net profit rose by 34% to Tk1.46 crore compared to the previous year, according to the company's financial statements.
For FY24, the company declared a 1% cash dividend for its shareholders.
