AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, Liberty Power Tech Ltd has officially acquired a significant stake in Feroze1888 Mills Limited, surpassing ten percent of the company’s voting shares, as disclosed in compliance with Clause 5.6.5 of the Pakistan Stock Exchange Rule Book and Section 110 of the Securities Act, 2015.
According to information available from the Pakistan Stock Exchange (PSX), the transaction involved the acquisition of 39,950,000 shares, constituting 10.0022% of the voting shares in Feroze1888 Mills Limited. This strategic purchase, executed on June 24, 2024, at a rate of Rs. 78.00 per share, positions Liberty Power Tech as a major stakeholder in the textile company.
The acquisition is part of Liberty Power Tech’s broader strategy to diversify its investment portfolio and establish a significant presence in the textile industry. The move is seen as a commitment to leverage and potentially influence the operational and strategic directions of Feroze1888 Mills Limited.
Detailed disclosures and formal notifications of this transaction have been submitted to the relevant regulatory bodies, ensuring transparency and adherence to statutory requirements. The transaction not only affects the shareholding structure of Feroze1888 Mills but also signals potential new developments in its corporate governance and strategy moving forward.