Tasnim Binthe Mostafa, a director at both Meghna Group and Bangladesh National Insurance Company Ltd, has declared she will increase her stake in the insurance company.
She will buy 7.15 lakh shares of Bangladesh National Insurance at the prevailing market price in the block market of the Dhaka Stock Exchange (DSE) within the next 30 working days.
The said shares will be bought from the insurance company's sponsor-directors, namely Abdul Baten, Abdur Rouf, and Farida Akter.
Abdul Baten will sell 2.55 lakh, Abdur Rouf 2.7 lakh, and Farida Akter 1.90 lakh shares.
Tasnim Binthe Mostafa is the youngest daughter of Mostafa Kamal, chairman and managing director of the Meghna Group of Industries.
Currently, his family holds 34.17% shares of the insurance company.
Bangladesh National Insurance listed on the DSE in 2016.
In 2021, the company made a profit of Tk14.30 crore, and paid an 18% cash dividend to its shareholders.
In the first-half of 2022, its earnings per share (EPS) stood at Tk2.24.
On Wednesday, its shares closed at Tk59.10 each.