Shares of STO Corporation have climbed sharply on the Maldives Stock Exchange, reaching the highest trading prices alongside Bank of Maldives as preparations advance for STO’s Annual General Meeting.

STO announced plans to appoint a shareholder-nominated director to its board, representing investor interests.

Current Maldives Stock Exchange trading shows STO buy prices ranging from MVR 1,769 (low) to MVR 1,800 (high), with sell prices between MVR 1,998 (low) and MVR 1,998.89 (high).

This marks significant growth from last year’s MVR 1,700 price, driven by a 3% profit increase to MVR 762 million.

BML shares hold steady at MVR 1,000, while Maldives Tourism Development Corporation (MTDC), established under former President Maumoon Abdul Gayoom to share tourism profits with citizens trades lowest at MVR 14.