AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: In a significant transaction on July 10, Arif Habib Corporation Limited, a key shareholder in Arif Habib Limited, has increased its ownership through a purchase of shares, as per the regulations of the Pakistan Stock Exchange (PSX). This move reflects ongoing adjustments in the shareholding pattern of the company.
According to information available from the Pakistan Stock Exchange (PSX), Arif Habib Corporation Limited bought 2,331,456 shares at an average price of 61.37 per share. The shares were acquired in a ready market form, reflecting a strategic addition to the corporation’s portfolio. Prior to this purchase, Arif Habib Corporation Limited held a 76.49% stake in the company. This recent acquisition has altered their cumulative shareholding to approximately 49.98 million shares.
This transaction is compliant with clause 5.6.4 of the PSX Rule Book, which mandates disclosure by substantial shareholders about any significant change in their holdings. The purchase details will be reviewed in the upcoming board meeting, where the board will consider the implications of this new acquisition.
The notification of this transaction has been formally communicated to the Pakistan Stock Exchange, fulfilling the regulatory requirements and ensuring transparency in the dealings of substantial shareholders. This is in line with the practices aimed at maintaining an informed trading environment for all stakeholders involved.