Walton Hi Tech Sponsor Director to Sale of 1.5 Lakh Shares

Industry: Electronics, Stock Market
Company: Walton Group
Company Intelligence Tag: Business Insights

Sponsor Director of Walton Hi-Tech Industries Ltd. has announced the intention to sell 1.5 lakh shares, approximately 0.023% of his total holdings, in the block market of the Dhaka Stock Exchange (DSE) within the next 30 days. Currently holding 65,855,111 shares, he aims to comply with the Bangladesh Securities and Exchange Commission’s (BSEC) directive to increase the company’s free-float shares to 10% in the stock market.

Walton’s free-float shares currently stand at 1.01% of the total. The BSEC had mandated sponsors and directors of listed companies to achieve a minimum of 10% free float shares within three years. The move is in line with regulatory efforts to enhance liquidity and transparency in the stock market. As of the latest disclosure, Walton’s share price on the DSE is Tk1,047.70 each.

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