Ibrahim Holdings Increases Stake in Ibrahim Fibres Limited

Karachi: Ibrahim Holdings (Pvt.) Ltd., a substantial shareholder and sponsor of Ibrahim Fibres Limited, has executed a significant transaction in the company’s shares on August 22, 2024, according to a recent disclosure filed with the Pakistan Stock Exchange (PSX). The company bought 3,924 shares at a rate of 350.00 PKR per share through the Central Depository Company (CDC) in the ready market.

The transaction, which involves shares owned by Ibrahim Holdings, was conducted under clause No. 5.6.4 of PSX Regulations. This regulation mandates the disclosure of any transactions involving directors, CEOs, executives, their spouses, and substantial shareholders.

According to information available from the Pakistan Stock Exchange (PSX), the transaction will be presented at the upcoming board meeting of Ibrahim Fibres Limited. The meeting aims to address and highlight any non-compliance issues for consideration as required by the PSX regulations.

The company further confirms that the holding period for the shares exceeds six months. If it had been within six months, the profit from the transaction would be subject to a cheque deposit with the Securities and Exchange Commission of Pakistan (SECP) as mandated by Section 105 of the Securities Act, 2015, with an intimation to the PSX.

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