Samuel S Chowdhury, chairman of Square Pharmaceuticals, yesterday expressed his willingness to purchase 15 lakh shares of the company, valued at over Tk 32 crore at the current market price.

Also a sponsor of the company, Samuel plans to acquire the shares at the prevailing market price in both the public and block markets through the Dhaka Stock Exchange (DSE) within the next 30 working days, Square Pharmaceuticals said in a disclosure on the premier bourse's website.

Square Pharmaceuticals' shares remained unchanged and closed at Tk 217.5 on the DSE yesterday.

In the last one month, similar announcements also came from the company's two other sponsor directors – Tapan Chowdhury and Anjan Chowdhury – who expressed their intentions to purchase 15 lakh shares each.

Yesterday, the largest drug maker said Anjan Chowdhury had completed his purchase of the shares of the company.

As of November 30 last year, Samuel held a 9.32 percent stake in Square Pharmaceuticals, a major concern of Square Group.

Following the purchase, his total stake in the company will increase to 9.49 percent.

As of January this year, sponsors and directors collectively held 42.91 percent of Square Pharmaceuticals' shares, while the public owned 27.67 percent.

Foreign and institutional investors held 15.54 percent and 13.88 percent, respectively.

The pharmaceutical producer and exporter's net profit rose 26 percent year-on-year to Tk 660 crore in the October-December period of the fiscal year 2024-25.

In the first half of the 2024-25 financial year, the company recorded a profit of Tk 1,269 crore, up 13 percent year-on-year, according to its second-quarter financial statement.

However, in the 2023-24 financial year, Square Pharmaceuticals' profit after tax declined by 5.34 percent year-on-year to Tk 1,559 crore.