The two sponsor shareholders of Walton Hello-Tech Industries – a native electronics giant – have determined to switch around 2.11 crore shares from their holdings to their little children, per the company’s disclosures.
The sponsor-directors are SM Ashraful Alam, who is now vice chairman, and SM Nurul Alam Rezvi, a shareholder director on the board of Walton.
Per a stock alternate filing on Thursday (19 September), SM Ashraful Alam intends to switch 1.21 crore shares equally between his son Shahriar Alam Shuvo and his daughter Fariha Alam Prova.
The shares will doubtless be transferred as a present open air the procuring and selling gadget of exchanges all the very best blueprint by the next 30 working days, beginning from 17 September.
Per the shareholding document for August, Ashraful Alam owns 6.54 crore shares, or 21.59% of the company.
Meanwhile, SM Nurul Alam Rezvi has expressed his scheme to switch 90 lakh shares to his daughter Rifah Tasnia Swarna. These shares could also be transferred as a present open air the procuring and selling gadget of exchanges all the very best blueprint by the next 30 working days, beginning from 17 September.
Per the shareholding document for August, Nurul Alam Rezvi owns 3.30 crore shares, or 10.89% of Walton.
Beforehand, on 15 September, SM Shamsul Alam, a sponsor-director and chairman of Walton, introduced his scheme to switch over 3.64 crore shares to his companion and daughters. He owns six crore shares, or 19.81% of Walton Hello-Tech Industries.
His daughter Sabiha Jarin Orona and his companion Shahinur Akter Jolly, each frequent shareholders of the company, will receive 1.81 crore shares and 90.81 lakh shares, respectively. Moreover, Shamsul Alam’s other daughter Tahmina Afrose Tanna, who is a shareholder director on the board of Walton, will receive 91.75 lakh shares.
For the time being, out of its total 30.29 crore shares, Walton’s sponsor-directors indulge in 98.51%, while the final 1.49% is owned by frequent shareholders, including establishments at 0.66%, foreigners at 0.10%, and public shareholders at 0.73%.
Walton went public in 2020 by offloading only one% of its shares in the secondary market. In 2021, the Bangladesh Securities and Trade Commission (BSEC) initiated efforts to amplify the free float to lower manipulation. In consequence, in September 2021, the cost directed Walton Hello-Tech Industries, along with the remark-owned Investment Company of Bangladesh and Berger Paints (Bangladesh), to be determined now now not lower than 10% free float.
Per Walton’s location document on fragment transactions, as of 30 June 2024, there had been 15.85 lakh shares bought by the sponsors/directors to frequent and other shareholders.
For the fiscal 2023-24, Walton reported a earnings of Tk1,356 crore, an amplify of Tk573.85 crore when when put next with the outdated fiscal three hundred and sixty five days. The board of directors has determined to pay 200% cash dividends to sponsor-directors and 350% to frequent shareholders.
