AJ Corporation to buy 15 lakh shares of Generation Next Fashions

AJ Corporation Limited, a Generation Next Fashions Ltd corporate director, has expressed its intention to buy 15 lakh shares of the company.

The AJ Corporation will buy these shares from the block market within the next 30 working days, according to the Dhaka Stock Exchange (DSE) on Thursday (30 March).

Block market trading takes place beyond the regular trading screen where buyers and sellers meet at their pre-negotiated prices within the allowable range and it is mainly to facilitate bulk trades.

On Thursday, its shares were stuck on the floor price at Tk6 at the DSE.

Earlier, on 2 March, it had declared to buy 15 lakh shares of Generation Next, which is yet to be executed.

Since February this year, the AJ Corporation has bought 3,519,000 shares of the company from the block market.

Out of the total 49.50 crore shares, sponsor-directors of the company held 14.48%, institutional investors 23.05% and general shareholders held 62.47% as of February.