Walton 2 Sponsor Shareholders to Transfer 2.11 Crore Shares to Family

Industry: Electronics
Company: Walton Group
Company Intelligence Tag: Business Insights

Two sponsor shareholders of Walton Hi-Tech Industries plan to transfer approximately 2.11 crore shares to their children, as disclosed by the company. SM Ashraful Alam, vice chairman, intends to gift 1.21 crore shares equally to his son Shahriar Alam Shuvo and daughter Fariha Alam Prova. SM Nurul Alam Rezvi will transfer 90 lakh shares to his daughter Rifah Tasnia Swarna. Both transfers will occur outside the trading system within 30 working days from September 17.

Previously, chairman SM Shamsul Alam announced a transfer of over 3.64 crore shares to his wife and daughters, following the August shareholding report that shows sponsor-directors owning 98.51% of Walton’s total 30.29 crore shares. Walton, which went public in 2020, reported a profit of Tk 1,356 crore for FY 2023-24, leading to a 200% cash dividend for sponsor-directors and 350% for general shareholders.

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