AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: Ibrahim Holdings (Pvt.) Ltd., a substantial shareholder and sponsor of Ibrahim Fibres Limited, purchased 12,523 shares of the company on July 25, 2024, at a rate of Rs. 350 per share. The transaction was conducted in the ready market and the shares were issued in dematerialized form through the Central Depository Company (CDC).
According to information available from the Pakistan Stock Exchange (PSX), the transaction will be reviewed in the upcoming board meeting of Ibrahim Fibres Limited. The company has confirmed that it will address any potential non-compliance issues related to this transaction as required by clause No. 5.6.4 of PSX Regulations.
The company also ensured that the holding period for these shares is beyond six months. Should the holding period have been shorter, the profits from this transaction would be required to be deposited with the Securities and Exchange Commission of Pakistan (SECP), as per Section 105 of the Securities Act, 2015, with appropriate notifications to the PSX.
This move by Ibrahim Holdings is part of broader efforts to maintain transparency and adherence to regulatory requirements within the securities market of Pakistan.