B Mirror Report : Square Pharmaceuticals’ Chairman Samuel S Chowdhury has announced his intention to purchase 20 lakh shares of the company at the prevailing market price, according to a disclosure filed with the Dhaka Stock Exchange (DSE) Under the plan, the shares valued at around Tk43 crore, with each share priced at Tk215.20 will be acquired from both the public market and through block transactions on the DSE over the next 30 working days.
Samuel Chowdhury already holds a significant stake in the company, and this latest planned purchase underscores the continued confidence of the senior leadership in Square Pharma’s long-term performance and growth outlook, market analysts say. (Earlier this month, in separate disclosures, Square Pharmaceuticals Managing Director Tapan Chowdhury and Director Ratna Patra also announced plans to buy a combined 30 lakh shares with Tapan set to purchase 20 lakh and Ratna 10 lakh of the company at the prevailing market price within the next 30 working days.
Industry data show that sponsor-directors of Square Pharmaceuticals have been gradually increasing their shareholdings, a trend often interpreted by market observers as a sign of strong confidence in the company’s future performance.
Square Pharmaceuticals is currently one of the leading listed companies on the DSE by market capitalisation. According to the company’s latest shareholding statement, sponsors and directors jointly hold a significant proportion of shares, while institutional, foreign, and general investors account for the remainder of the company’s equity.
