AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: A notable transaction involving a substantial shareholder, Ibrahim Holdings (Pvt.) Ltd., acquiring shares of Ibrahim Fibres Limited was executed on July 11, 2024, according to a recent notification by the company to the Pakistan Stock Exchange (PSX).
The transaction details reveal that Ibrahim Holdings, identified as a sponsor and substantial shareholder of the company, purchased 437 shares at a price of PKR 350.00 each. The shares were bought in the ready market, and are held in the Central Depository Company (CDC) form.
According to information available from the Pakistan Stock Exchange (PSX), the transaction will be discussed in the upcoming board meeting of Ibrahim Fibres Limited. The board will review any potential non-compliance issues related to the transaction, as mandated under clause No. 5.6.4 of PSX Regulations.
The company further confirms that the holding period for the shares exceeds six months. In accordance with Section 105 of the Securities Act, 2015, if the holding period had been under six months, any profit from the sale of these shares would be subject to a cheque deposit with the Securities and Exchange Commission of Pakistan (SECP), with appropriate notification to PSX.