AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Islamabad, A notable transaction was executed on June 27, 2024, involving Ibrahim Holdings (Pvt.) Ltd., a substantial shareholder and sponsor of Ibrahim Fibres Limited. The company purchased 96 shares at a rate of 400.00 PKR per share. The shares were acquired in a ready form through the Central Depository Company (CDC).
This transaction is set to be discussed in the upcoming board meeting of Ibrahim Fibres Limited. The focus will be on ensuring compliance with clause No. 5.6.4 of the Pakistan Stock Exchange (PSX) Regulations, which mandates disclosure of such transactions. The company has confirmed that all necessary details will be presented for board review.
According to information available from the Pakistan Stock Exchange (PSX), this acquisition by Ibrahim Holdings follows the required legal framework. The firm has also confirmed adherence to the holding period stipulations under the Securities Act of 2015. Specifically, if the holding period of the shares is less than six months, profits from any subsequent sale must be deposited with the Securities and Exchange Commission of Pakistan (SECP), as stated by the company.
This transaction underscores the active participation of substantial shareholders in the governance and strategic direction of listed companies, aligning with regulatory requirements to ensure transparency and compliance within the stock exchange framework.