IBFL reports insider transaction worth Rs. 6.4 million

In a notification sent to the PSX on 29/04/2024, Ibrahim Fibres Limited (IBFL) reported a transaction by a substantial shareholder.

The transaction was carried out by the Director CEO, a substantial shareholder, who bought a total of 16037 company shares for Rs. 400.00 per share. The total amount for this transaction stands at Rs. 6,414,800.

Investors often interpret an insider buying stock in a company as a positive signal. It suggests that those with intimate knowledge of the company’s operations and prospects believe the stock is undervalued or poised for growth, positively impacting the stock price.

The shares of IBFL were last trading at Rs. 400.00 today.