Now Walton MD decides to transfer 1.45cr shares to family members 

SM Mahbubul Alam, managing director (MD) of Walton Hi-Tech Industries, one of Bangladesh's largest electronics manufacturers, has expressed his intention to transfer 1.45 crore shares to his family members.

As per the declaration, Mahbubul Alam, will transfer 60.60 lakh shares to his daughter Nishat Tasnim Shuchi, 60.60 lakh shares to his son Shadman Sakib Dipro and 23.80 lakh shares to his wife Zakia Sultana by way of gift outside the trading system of the exchange within 30 working days, with effect from 22 September. 

The declaration on share transfer was published on the Dhaka Stock Exchange and Chittagong Stock Exchange (CSE) today.

This move is part of a broader plan by Walton's leadership to gradually transfer ownership to the next generation. Earlier, three other sponsor directors of Walton had transferred significant amounts of shares to their family members.

According to the shareholders report for August, Mahbubul holds 5.39 crore shares of Walton, which is equivalent to 17.79% of the total shares of Walton. 

On 19 September, SM Ashraful Alam, vice-chairman, and SM Nurul Alam Rezvi, a shareholder director at the board of Walton had declared to transfer 2.11 crore shares to the next generation. 

Meanwhile, Walton Chairman SM Shamsul Alam on 15 September declared to transfer over 3.64 crore shares to his wife and daughters. 

The three owners of Walton have completed transferring the shares, according to disclosures on the stock exchanges today. 

SM Ashraful Alam transferred 1.21 crore shares to his son Shahriar Alam Shuvo and daughter Fariha Alam Prova, each receiving 60.60 lakh shares. 

Nurul Alam Rezvi transferred 90 lakh shares to his daughter Rifah Tasnia Swarna.

Among Shamsul Alam's transferred shares, his daughter Sabiha Jarin Orona, and wife Shahinur Akter Jolly, both general shareholders of the company, received 1.81 crore shares and 90.81 lakh shares respectively. 

Meanwhile, Shamsul's other daughter Tahmina Afrose Tanna, who is a shareholder director in the board of Walton, received 91.75 lakh shares. 

Currently, Walton's sponsor-directors own 98.51% of its 30.29 crore shares, while general shareholders hold the remaining 1.49%, including institutions with 0.66%, foreigners with 0.10%, and public shareholders with 0.73%.

Walton went public in 2020 by offloading only 1% of its shares in the secondary market. 

According to Walton's share buy/sell status report, as of 30 June, sponsors/directors sold 15.85 lakh shares to general and other shareholders.

In the 2023-24 fiscal, Walton made a profit of Tk1,356 crore. The net profit of the local electronic giant increased by Tk573.85 crore compared to the previous fiscal year. 

The board of directors had decided to pay 200% cash dividends to its sponsor-directors, and 350% for the general shareholders.