B Mirror Report: Aziz Mohammad Bhai, chairman of Olympic Industries, will purchase shares worth nearly Tk 155 crore from the stock market today. He announced this decision through Bangladesh’s two stock exchanges on Thursday. The information was also published on the Dhaka Stock Exchange (DSE) website.
According to the DSE announcement, Aziz Mohammad Bhai plans to buy 1 crore shares of his company from the market. As per regulations, he will complete the purchase within the next 30 working days, using the DSE’s block market.
Aziz Mohammad Bhai was a well-known figure in Bangladesh’s film industry during the 1980s and 1990s, involved in film production. He is also one of the accused in the murder case of actor Sohel Chowdhury. In 2024, he was sentenced to life imprisonment in that case but is currently absconding abroad.
Large share transactions in the stock market are usually conducted through the block market. Unlike the regular market, where prices are determined by supply and demand and buyers and sellers are unknown to each other, the block market involves pre-determined prices and quantities between buyers and sellers. This method helps avoid a sudden impact on share prices during large transactions.
As of 11:00 am today, Olympic Industries shares were trading at Tk 154 each in Dhaka. Based on Aziz Mohammad Bhai’s plan, purchasing 1 crore shares at the current market price would require around Tk 155 crore, though the total may vary slightly depending on price fluctuations.
The announced purchase represents over 5% of the company’s total shares, meaning Aziz Mohammad Bhai will acquire more than 5% of Olympic Industries’ shares from the market in a single transaction. Currently, the company’s promoters hold about 32% of total shares, which will increase after this purchase.
Listed in 1989, Olympic Industries is considered a fundamentally strong stock. The company dominates a large portion of Bangladesh’s biscuit and confectionery market, with popular products including Energy, Nati, Tip, Lexus biscuits, and Olympic-brand batteries.
Following the announcement, trading of Olympic Industries shares surged in Dhaka. By 11:00 am, the company topped market transactions with around Tk 15.25 crore worth of shares exchanged. Each share rose by approximately Tk 1, reaching Tk 154.
