Dhaka, Jan. 6 -- The managing director of Square Pharmaceuticals, Tapan Chowdhury, is set to buy 2 million shares of the company at the current market price, according to a market filing on Monday.

Shares would be purchased from both the main board and block market of the Dhaka Stock Exchange (DSE) within the next 30 working days.

The stock of Square Pharma closed at Tk 200.4 each share on Monday on the Dhaka bourse. The total value of 2 million shares will be Tk 401 million at the current price.

The company's MD has decided to buy shares at a time when many well-performing stocks, including multinational ones, have been enduring price erosion and not finding expected buyers.

"When sponsors or directors of a company show interest in b...