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DBS CEO Piyush Gupta sells S$3.4 million worth of shares in bank
DBS chief executive Piyush Gupta has sold 100,000 of his shares in the bank, netting him around S$3.4 million, as indicated by documents filed with the Singapore Exchange on Tuesday (Aug 8).
He sold 8,100 shares at S$34.32 each and 91,900 shares at S$34.2553 each in two separate open market transactions on Friday. Together, the shares sold accounted for 4.4 per cent of his DBS holdings.
He still owns 0.085 per cent, or 2,185,721 ordinary shares in DBS, under a trust arrangement.
Gupta sold his shares a day after DBS trounced forecasts to announce a record S$2.69 billion in net profit for the second quarter of 2023.
This was up 48 per cent from a year ago, driven by a jump in net interest margin, he told reporters at DBS’ results briefing on Thursday.
Growth was also supported by higher fee income at the bank’s commercial, wealth management and cards businesses.
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102159413 : sell high then buy low later?
Deep Sea : He is only a salaried employee of DBS, not the main cotrolling shareholder, Temasek. The stocks he sold will have no big impact on the share price.
104371461 102159413 : Everyone invests in stocks for profit. Buying at a low price and selling at a high price is something every investor of us does
Btan : Slam dunk today