AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, Ibrahim Holdings (Pvt.) Ltd., a substantial shareholder and sponsor of Ibrahim Fibres Limited, executed a series of significant share purchases on June 21, 2024, as disclosed under the compliance with Pakistan Stock Exchange (PSX) Regulation’s clause 5.6.4.
The transactions involved buying various batches of shares at prices ranging from 387.77 to 397.77. The total acquisition included 41,405 shares, conducted in the ready market using Central Depository Company (CDC) certificates. Some of the notable purchases were 500 shares at 395.00, another 500 at 396.00, and a large batch of 39,505 shares at 397.77.
According to information available from the Pakistan Stock Exchange (PSX), these transactions are part of Ibrahim Holdings’ strategic investment in Ibrahim Fibres and reflect a bullish stance on the company’s future prospects.
The transactions will be reviewed in the subsequent board meeting of Ibrahim Fibres to ensure all compliance with PSX regulations, particularly focusing on any non-compliance issues that need to be addressed.
The company has confirmed that the holding period for these transactions exceeds six months. Should any sales occur within six months, the profits would be subjected to regulations under Section 105 of the Securities Act, 2015, requiring the return of profits to the Securities and Exchange Commission of Pakistan (SECP), with appropriate notifications to PSX.