Apex Footwear’s Chairman, Syed Manzur Elahi, has announced plans to acquire 11,000 shares of the company from the Dhaka Stock Exchange (DSE) secondary market.
As the sponsor director, he intends to make this purchase at the prevailing market price within the next 30 working days, following his previous acquisition of 77,000 shares in two phases last November. This move signals confidence from the company’s leadership.
On Monday, Apex Footwear’s shares saw a 1.78% increase, reaching Tk257.80 on the DSE. Despite the positive market sentiment, the company’s financial statement reports a decline in revenue to Tk667.87 crore in the first half of FY24, compared to Tk801 crore in the same period of FY23.
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The net profit also experienced a 34% drop, settling at Tk2.40 crore in H1 FY24. Key financial metrics include earnings per share at Tk3.25 and a net asset value of Tk4.74 as of December 2023, providing insights into the company’s performance and financial health.