AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, A significant transaction occurred involving Ibrahim Holdings (Pvt.) Ltd., a substantial shareholder and sponsor of Ibrahim Fibres Limited, where 10,312 shares were purchased on June 25, 2024. The shares were bought at a rate of PKR 400.00 each and were processed through the Central Depository Company (CDC) on the ready market.
According to information available from the Pakistan Stock Exchange (PSX), this transaction is part of a larger scrutiny within the company, especially concerning compliance with regulatory standards. The transaction will be reviewed in the subsequent board meeting of Ibrahim Fibres Limited, which will include discussions on any potential non-compliance with clause No. 5.6.4 of the PSX Regulations.
Furthermore, the company has confirmed that the holding period for the shares involved in this transaction exceeds six months. If any similar transactions occur within a six-month period, the company is obliged to deposit the equivalent profit with the Securities and Exchange Commission of Pakistan (SECP) under Section 105 of the Securities Act, 2015, as a measure to ensure compliance and transparency in its financial dealings.