AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Lahore: Ibrahim Holdings (Pvt.) Ltd., a substantial shareholder and sponsor of Ibrahim Fibres Limited, has recently increased its stake in the company with a significant share purchase. On June 28, 2024, the company acquired 50,000 shares in two separate transactions. The first transaction involved 25 shares at a rate of PKR 399.90 each, while the second, larger transaction included 49,975 shares at PKR 400.00 per share. All transactions were executed through the Central Depository Company (CDC) and recorded on the Ready Market.
According to information available from the Pakistan Stock Exchange (PSX), these transactions are in compliance with PSX Regulations under clause No. 5.6.4. The details of these transactions will be reviewed in the upcoming board meeting of Ibrahim Fibres Limited. The board will examine any potential non-compliances associated with these transactions.
The company also confirmed that if the holding period for these shares is less than six months, any profit generated from these transactions will be deposited with the Securities and Exchange Commission of Pakistan (SECP) in accordance with Section 105 of the Securities Act, 2015, and the details will be notified to the PSX.
This strategic acquisition underscores Ibrahim Holdings’ continued commitment to its role as a major stakeholder in Ibrahim Fibres, reflecting a robust confidence in the company’s prospects.